NABSAMRUDDHI Finance, a subsidiary of National Bank for Agriculture and Rural Development (NABARD), has invested Rs 50 crore in five NBFCs through a Pooled Loan Issuance (PLI). Debt financier, Northern Arc Capital, structured and executed the deal, a press release said. Through this PLI, NABSAMRUDDHI enabled debt for five leading NBFCs – Satya Microcapital, Sonata Microfinance, Kinara Capital, IntelleGrow and Berar Finance who operate in microfinance, SME finance and Vehicle finance segments, the release said. Northern Arc acted as the guarantor in this transaction. The capital will be utilised by the five NBFCs to on-lend to under-banked households, small enterprises and purchasers of vehicles.
NABARD subsidiary invests Rs 50 crore via pooled loan in five NBFCs
Date posted: Tuesday 13 October 2020