SKS to disburse Rs 1500 cr this fiscal

SKS Microfinance Private Limited is planning to disburse Rs 1,500 crore during this fiscal across 15 states in the country as against Rs 445 crore during the last fiscal.

Speaking with mediapersons, KV Rao, vice-president (member service), SKS Microfinance, said as of November, the company had distributed Rs 868 crore to women self-help groups and has ambitious plans to step up advances.

"We our aiming to disburse about Rs 4,000 crore in 2008-09 and to achieve the target, we are expanding our branch network from the existing 140 to 250 by the end of March 2009," he said.

The recovery rate of the company has crossed 99.8 per cent, according to him.

The company is giving more thrust on Andhra Pradesh and plans to disburse Rs 400 crore in the state of the targeted Rs 1,500 crore this fiscal.

Next year too, of its total target of Rs 4,000 crore advances, it plans to keep about Rs 1,500 crore for Andhra, he said.

"In the Vizag region within a span of six months, SKS disbursed Rs 26 crore to 50,000 members in 550 villages. We hope to reach out to at least 80,000 women by the end of this fiscal and 3,00,000 poor households by the end of 2010," he said.