Bharat Financial Inclusion has assigned a pool of receivables of an aggregate value of Rs 192.58 crore to one of the largest public sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India.
This is the third direct assignment transaction during FY17. The aggregate value of the three direct assignment transactions is Rs 778.09 crore.
Bharat Financial Inclusion (formerly known as SKS Microfinance) is a non-banking finance company (NBFC), regulated by the Reserve Bank of India. The company's mission is to provide financial services to the poor under the premise that providing financial services to poor borrowers helps to alleviate poverty.