Investment market still robust despite slowdown'
By
IANS
| Tuesday,18 November 2008, 01:33 hrs
|
New Delhi: Leading non-banking finance company SKS Microfinance, which added 400,000 customers last month, Monday said the investment market in India was still robust despite the market volatility.
"We added 400,000 new customers last month and our loan recoveries are as high as 99.5 percent which is far greater than the conventional banking system," SKS Microfinance founder and chief executive officer Vikram Akula told reporters here on the sidelines of the World Economic Forum-India Economic Summit.
Akula said the company has no problem with the Reserve Bank of India (RBI) imposing regulations on mobile banking.
"We don't mind the regulation if that makes the RBI comfortable," he said.
Talking about the market volatility, Hemendra Kothari, chairman of financial services firm DSP Merrill Lynch, said: "There is short of liquidity all around the world? we need to inject more liquidity in to the market to ease the prevailing tension."
"We added 400,000 new customers last month and our loan recoveries are as high as 99.5 percent which is far greater than the conventional banking system," SKS Microfinance founder and chief executive officer Vikram Akula told reporters here on the sidelines of the World Economic Forum-India Economic Summit.
Akula said the company has no problem with the Reserve Bank of India (RBI) imposing regulations on mobile banking.
"We don't mind the regulation if that makes the RBI comfortable," he said.
Talking about the market volatility, Hemendra Kothari, chairman of financial services firm DSP Merrill Lynch, said: "There is short of liquidity all around the world? we need to inject more liquidity in to the market to ease the prevailing tension."
Recent posts from Business news
- Five companies apply for 3G spectrum
- Microsoft to launch Office 2010 for Indian users
- Soon, private firms to offer medical education
- Canadian universities line up for India
- iPhone 4.0 to have multitasking
- Nokia to roll out music service in India soon
- State-run banks can enter insurance business
- Sprint uses iPhone to sell WiMAX router
- Technology drives healthcare costs
- Franklin Templeton announces tax-free dividend
- IT firms' new cost cutting mantra: Hire non-techies
- 22yr old Indian to solve cybercrimes @ mouse click
- Will foreign varsities poach IIT, IIM profs?
- India in 2030 will be most educated in the world: Sibal
- Top IT skills that can get you a better job
- Aircel launches a Qwerty handset for Rs. 2,999
- 10 most popular incentives that firms offer
- Approaching a VC? Here is a checklist
- 4,000 Infosys' employees resign last month: CLSA
- Cognizant announces bonuses up to 200 percent


