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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Investors return to micro-finance s

Investors return to micro-finance space with investments worth Rs 869 crore in FY13

More than two years after theAndhra Pradesh government put the squeeze on micro-finance institutions in an effort to curb their usurious practices, investors are beginning to return to the sector. 
Even as lenders battle over the controversial laws by the state government, ten investors, domestic as well as foreign, have invested $158 million (approximately Rs 869 crore at current value) in FY13
Chennai-based Equitas received the highest - $53 million - equity investment by multilateral lender IFC, and Caspian investors. IFC also invested in Suryoday and Ujjivan during the year. The investors include financial institutions and private equityplayers, among others. 
Significantly, these investments come at a time when returns are regulated and no longer earn huge margins the way these did before 2010. Lenders can now earn 10-12 percentage points above their own borrowing costs. This means that interest rates could range between 23% and 27%. Before the 2010 crisis, some lenders charged up to 40%, a little lower than local moneylenders. 

 
     
 
   
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