ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Demonetisation impact: Bharat Financials collections peaked at 159% by Nov 18

Most of the Microfinance institutions (MFIs) have stopped disbursement either due to shortage of currency or due to fear of misuse.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Demonetisation impact: Bharat Financials collections peaked at 159% by Nov 18
Bharat Financial (formerly SKS Microfinance) released a report on impact of demonetisation on its operations. Photo: Reuters

In the first week after the demonetisation announcement, Bharat Financial Inclusions' collections peaked at 159% at November 18 and stabilized at 102% by November 25.

Bharat Financial (formerly SKS Microfinance) released a report on impact of demonetisation on its operations. In the report, the company mentioned that the collections dropped to 10% on November 11, the first day of operations post demonetisation, but later in the next two weeks it picked up.

Looking at the data, which indicated that a majority of the collection shortfall in the first week of demonetisation was recovered in the second week and in by the third week the situation came back to normalcy. 

"Of the Rs 6.9 billion to be collected over the past eleven days, Bharat Financial has managed to collect Rs 6.7 billion. The company has dealt in only 'valid currency' since the announcement of demonetisation", the report said.

Antique Institutional Equities, in a report said that while most of the Microfinance institutions (MFIs) have stopped disbursement either due to shortage of currency or due to fear of misuse, Bharat Financial, was able to disburse Rs 4.2 billion over the past eleven days.

As per the report, the disbursement happened only in those centres which reported 100% collections. "While there have been some constraints on disbursements due to availability of valid currency, Bharat Financial has faced this problem to a much lower extent due to its small ticket sizes (average weekly installment size for a Bharat Financial customer would be around Rs 400, while average monthly installment size for a Ujjivan customer would be Rs 2,000)".

But, the political events in the states of Uttar Pradesh and Maharashtra, tendency of borrowers to hoard cash and availability of new currency are still some issues that MFIs have to deal with. Considering, Bharat Financials ample liquidity and capital adequacy, the company likely to be in position to battle with the political issues, the report added.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Bharat Financial InclusionsMicro Finance InstitutionDemonetisationSKS Microfinance
Written By: ZeeBiz WebTeam
Updated: Tue, Nov 29, 2016
01:04 pm
Mumbai, ZeeBiz WebDesk

LATEST NEWS

Shree Cement Q3 Results: Profit falls short of analysts' estimates, margin plummets 590 bps

Chambal Fertilisers share dividend 2023: Check record date and amount

Canon India launches two mirrorless cameras - EOS R8 and EOS R50: Check complete specification and other details

Simple Energy raises USD 20 mn from investors

NHPC Q3 Results 2023: net profit falls 12.59% to Rs 776 crore in December quarter

Stocks to buy: SBI, ITC, Tata Power, Tata Consumer, Zydus, Marico - check price targets

Coal India Dividend 2023: Check record date and ex-dividend date, history

Lucknow name change: BJP MP Sangam Lal Gupta demands to rename Uttar Pradesh capital

Hero MotoCorp Q3 Result: Net profit rises 2.41% to Rs 721.24 crore for December quarter

Sebi moots institutional mechanism for stock brokers to curb market abuse

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV