Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2011-06-01

SKS Microfinance to levy processing fees

The new charges would be levied from June 1, it said. This is in accordance with the RBI guideline earlier this month.

SKS Microfinance will charge a processing fee of 1 per cent of the amount on all micro loans offered, a move that would provide greater transparency in operation. The credit shield insurance premium will be collected from the borrowers on the actual basis without any administrative charges, SKS Microfinance informed the Bombay Stock Exchange.

The new charges would be levied from June 1, it said. 

SKS Microfinance today said it will charge a processing fee of 1 per cent of the amount on all micro loans offered, a move that would provide greater transparency in operation.

The credit shield insurance premium will be collected from the borrowers on the actual basis without any administrative charges, SKS Microfinance informed the Bombay Stock Exchange.

The new charges would be levied from June 1, it said. This is in accordance with the RBI guideline earlier this month.

As per the guideline, an MFI can levy only three charges --- a processing fee not exceeding 1 per cent of total amount, interest and insurance charge.

 


As per the guideline, an MFI can levy only three charges --- a processing fee not exceeding 1 per cent of total amount, interest and insurance charge.

 

Related opportunities
  • Career Counselling & Brain Programming
    IntroductionBrain Checker Techno Services (India) is India's Largest Career Counseling..
    Locations looking for expansion Maharashtra
    Establishment year 2007
    Franchising Launch Date 2012
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Nashik Maharashtra
  • Chai Chun is a celebration of the rich, diverse and..
    Locations looking for expansion West Bengal
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Jalpaiguri West Bengal
  • Sports & Gaming
    About UsThe Amazing Escapes is an exciting and unique escape..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Bakery & Confectionary
    Started out as a small bakery supplying bread to British..
    Locations looking for expansion Karnataka
    Establishment year 2000
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 100 - 500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Rural District Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities