Latest News | CreditAccess Grameen to Invest Up to Rs 250 Cr into Subsidiary MMFL

New Delhi, Dec 21 (PTI) Microfinance lender CreditAccess Grameen on Tuesday said it will make further investment into subsidiary MMFL up to Rs 250 crore.

The company's shareholders in July this year had approved investment in Madura Micro Finance Limited (MMFL), a material subsidiary of CreditAccess Grameen.

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"The board of directors at their meeting held today (Tuesday)...have considered and approved further investment in MMFL in the form of subordinate debt or perpetual debt instruments (PDIs) or both, up to Rs 250 crore, in tranches," the company said in a regulatory filing.

This is to support the capital adequacy requirement of MMFL, it added. HRS hrs

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)