Bharatiya Samruddhi Finance Ltd
07 Dec 1999
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Fixed deposit programme Rating : FB+
Crisil has assigned an "FB+" rating to the fixed deposit programme of Bharatiya Samruddhi Finance Ltd. The rating takes into account the company’s strong systems, its resources position and management quality. The rating also factors in the inherent risk of lending to the economically disadvantaged classes of society and relatively high cost of operations.
Bharatiya Samruddhi Finance Ltd. is a rural micro-finance institution, engaged in micro-credit in 420 villages spread over five districts in the states of Andhra Pradesh and Karnataka. In its three years of operations, the company has disbursed over 16,000 loans valued at over Rs. 12.9 crore. In the year ended 31 March 1999, the company registered a profit after tax of Rs. 7.5 lakh on funds deployed of Rs. 7.24 crore.
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