Breaking News

You are here » Indian-Commodity  :  Top News  :  Ujjivan Financial trims rates for microfinance loans


Ujjivan Financial trims rates for microfinance loans

Ujjivan Financial Services, a leading pan-India microfinance institution, which is in process of transforming into a small finance bank, has decided a significant interest rate reduction of 75 bps with effect from October 1, 2016. The new interest rates for all Microfinance Loans have been lowered by 0.75%. The rate for Individual Bazaar Loans, however, remains unchanged. The company's predominant focus has been to cater to the unbanked urban financially weaker segment. However, over time, Ujjivan has substantially expanded its footprints in the semi urban and rural geography across 24 states, especially in Karnataka, Tamil Nadu, West Bengal, Odisha, Delhi and Maharashtra and is now the largest Microfinance Institution in India by geography.

Ujjivan offers a diverse range of loan products to cater to the specific requirements of its customers. Its products can be classified under two broad categories, namely, group loans and individual loans.

Related News

View all news

Gold futures end slightly lower on Thursday

Gold futures ended slightly lower on Thursday, as dollar index marked gain for the week amid US-China trade talks. However, weaker than expected economic data from the United States trimmed the......

Copper futures end tad higher on strong China trade data

Copper futures ended marginally higher on Thursday after better-than-expected China trade data, while investors awaited the outcome of high-level Sino-US trade talks in Beijing. Unwrought copper imports......

Physical Rubber prices witness some improvement on Thursday

Physical Rubber prices showed some improvement on Thursday. Spot prices for RSS-4 variety remained unchanged at Rs 123.50/kg; while the RSS-5 variety jumped to 116.50/ kg compared to its previous closing......

Top News

View all news

Kridhan Infra's arm bags order worth $36 Million

Kridhan Infra's (KIL) Singapore subsidiary -- KH Foges has bagged a new order in Singapore worth $36 Million (Rs 187 Crore). The subsidiary has been contracted to execute Piling Works & Earthworks......

Bharti Airtel upgrades 4G network in Mumbai

Bharti Airtel has upgraded 4G network in Mumbai, with the deployment of 'LTE 900 technology' that will enhance indoor network coverage and improve network experience for customers.With the roll-out of......

Refex Industries to raise Rs 25 crore via Rights Issue

Refex Industries has received approval to raise of funds by way of offer and issue of Equity Shares to the Members of the Company on Rights Issue at such price and rights entitlement ratio for an amount......