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Microfinance company Spandana Sphoornorty Financial suffered a consolidated net loss of RS 360 Crore in the first quarter of the tax, making it the fourth consecutive quarterly loss, due to a high stress and decrease in business volume and income. The lender had earned a consolidated net profit of RS 56 Crore in the period […]
Lack of financing places small and medium -sized MFIs in a difficult place Photocredit: Marchmeena29 Banks, in particular the public sector (PSBs), have stopped expanding loans under “A” rated micro-financing institutions (MFI) while stress continues to rise in the sector, sources say. “Last year’s negative developments in the sector have led most banks to include […]
