IndusInd Bank closes Rs100 crore of microfinance receivables

IndusInd Bank closes Rs100 crore of microfinance receivables
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First Published: Wed, Aug 20 2008. 07 55 PM IST
Updated: Wed, Aug 20 2008. 07 55 PM IST
Mumbai: IndusInd Bank on Wednesday announced the closure of Rs100 crore assignment of microfinance receivables.
The transaction, structured and arranged by Grameen Capital India, comprised a pool of advances to the agriculture and allied sectors.
IndusInd Bank was assigned microfinance receivables totalling Rs150 crore. The first tranche of Rs100 crore was closed on 29 July 2008 and the second tranche is slated to be concluded in February 2009, the bank said.
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First Published: Wed, Aug 20 2008. 07 55 PM IST