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CRISIL awards highest grading to Muthoot Microfin for fourth consecutive year
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Guarantees for MFI loans to kickstart lending in rural areas, say experts
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RBI tells MFIs to improve governance, loan appraisal system; assesses pandemic-led stress
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The central bank governor Shaktikanta Das called on these lenders Monday to assess the ground level situation going beyond the accounting numbers of micro lenders following the sharp rise in the rate of infections across regions, which forced local authorities to go for area wise containments and partial lockdowns.
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The existing provisions of relief in cases of natural calamities could be applied, they urged RBI.
The Reserve Bank of India has stressed that microfinance lenders need to follow appropriate governance and risk management standards even as these lenders are facing challenges with falling repayment collection while the raging second wave of the Covid-19 pandemic is affecting livelihoods.
Muthoot Microfin hires 2,300+ employees during pandemic
The firm has opened at least 64 new offices across different parts of the country in 2020.
23 Apr, 2021 - 02:34 PM IST | By indiantelevision.com Team
New Delhi: At a time when businesses worldwide are struggling to retain employees and maintain salaries, Muthoot Microfin has expanded its employee strength by 37 per cent.
In a statement issued on Friday, the microfinance firm said it has hired more than 2,300 employees while opening as many as 64 new offices across different parts of the country. Most of the new employees were roped in as part of recruitment drives conducted for candidates who had lost their job due to the pandemic.
Muthoot Microfin plans to raise Rs 350 cr via share sale
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Last Updated: Apr 25, 2021, 03:44 PM IST
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Muthoot Microfin is planning to raise Rs 350 crore by selling shares during the current year, to fund business growth. Besides, the microfinance arm of Muthoot Pappachan Group is also looking to raise Rs 100 crore from Tier-II bonds.
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NEW DELHI: Muthoot Microfin is planning to raise Rs 350 crore by selling shares during the current year, to fund business growth. Besides, the microfinance arm of Muthoot Pappachan Group is also looking to raise Rs 100 crore from Tier-II bonds. We are looking to garner USD 50 million or about Rs 350 crore equity capital to grow and build balacesheet of the company, Muthoot Microfin Chief Executive Officer Sadaf Sayeed told .
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