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CreditAccess Grameen Limited is registered as a non-deposit accepting NBFC - Microfinance Institution with the RBI. It is engaged in providing microfinance services to women who are enrolled as members and organized as Joint Liability Groups. It also uses its distribution channel to provide certain other financial products and services to the members.
CreditAccess Grameen allotted 30,000 secured non-convertible debentures via private placement, raising ₹300 Cr. Series I (₹100 Cr) matures in 2 years at 9.15% interest. Series II (₹200 Cr) matures in 3 years at 9.25%. This is a significant fund infusion, with NCDs secured by receivables and set to be listed...