Bharat Financial Inclusion (formerly known as SKS Microfinance) has assigned a pool of receivables of an aggregative value of Rs 518.85 crore to one of the largest public sector banks on direct assignment basis as per the guidelines of the Reserve Bank of India (RBI). This is the second direct assignment transaction in FY18. With this transaction, the company has completed direct assignment transactions worth Rs 1,058.52 crore in FY 18.
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.