In an interview to CNBC-TV18, HP Singh, Founder and MD of Satin Creditcare Network discussed the company's qualified institutional placement (QIP) issue.
In an interview to CNBC-TV18's Sumaira Abidi & Reema Tendulkar, HP Singh, Founder & MD of Satin Creditcare Network said that ICRA has changed the outlook from stable to negative.
"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", HP Singh, Founder & MD at Satin Creditcare told CNBC-TV18.
Satin Creditcare Network Limited (SCNL), one of the leading microfinance institutions reported its quarterly results for Q3FY17. The company experienced a weak quarter with a 10 percent fall in its assets under management (AUM)
Collections in the North for Satin Credit Care have started picking up but disbursements may gain traction once currency supply increases, says Founder and MD HP Singh.
HP Singh, Founder & MD of Satin Creditcare says that the re-classification done by RBI is not a repayment holiday.
In an interview to CNBC-TV18, HP Singh, Founder and MD of Satin Credit spoke about the latest happenings in his company and sector.
"We have a very robust growth based on this tier I capital. So, our tier I capital with this infusion goes up to about 22 percent", HP Singh, Founder and MD of Satin Credit Care told CNBC-TV18.
Company plans to grow the loan book in FY17 to around Rs 5000 crore from the current Rs 3270 crore, said HP Singh, CMD, Satin Credit.
We are expecting a 75 percent growth in our profits for the fiscal year 2017, says HP Singh, Founder and MD of Satin Credit.