Collection efficiency improved post farm loan waiver in UP: Satin Creditcare

Satin Credit Care raised capital by allotting shares to Asian Development Bank (ADB) and to the promoter holding in the company, Trishana Holdings. In an interview to CNBC-TV18, HP Singh, Founder and Managing Director of Satin Creditcare Network spoke about the latest happenings in his company and the sector.

"With ADB taking about 3.95 percent stake in our company, our net worth (in tier-I and tier-II) goes up to Rs 1,060 crore", he said. The company's tier I capital now reaches to about Rs 750 crore, he added.

Promoters are putting in close to about a percent in the company to validate the fact that the company still believes in the microfinance business and there is a lot of potential for growth.

Collection efficiency increased across the states, he mentioned.