Collection efficiency in UP at 90% from 40% in Nov: Satin Credit

In an interview to CNBC-TV18, HP Singh, Founder & MD at Satin Creditcare spoke about the board meeting on capital raising that is scheduled on March 10."We are looking at a capital raise yet again because we feel that we still want to be more capitalised in terms of our business needs. We have a board meeting on March 10 to look at some capital raise which is going to happen", he said.Talking about Uttar Pradesh (UP) portfolio, he mentioned, "UP has been there at the collection deficiency at the start of the demonetisation. However, on a month-to-month basis, the collection efficiency now is close to about 90 percent compared to 40 percent in November".For full interview, watch video...