SKS Microfinance surges on draft MFI Bill

MUMBAI: Shares of SKS Microfinance bounced back after falling over 7 per cent following a draft law to regulate microfinance industry from the finance ministry.

According to SKS Microfinance, the draft bill is a huge positive for the sector and the role of the Reserve Bank of India as a sole regulator is a good move.

Micro finance industry is to be out of purview of state government.

The scrip was at Rs 411.80, up 20.01 per cent on the NSE. It touched a high of 411.80 and low of Rs 314.30 in trade so far.