SKS Microfinance Cuts Lending Rates

Wednesday, October 27, 2010

MUMBAI – Indian microlender SKS Microfinance Ltd. Wednesday cut its lending rates to 24.55% on a reducing balance from 26.69% earlier in the southern Indian province of Andhra Pradesh, its spokesperson said.

“Earlier in the month, our chairman (Vikram Akula) said that if the government and the central bank wants us to cut rates, we’ll be happy to do so,” Atul Takle told Dow Jones Newswires.

Source: The Wall Street Journal (link opens in a new window)