FDI in securitisation of micro-finance projects gets the boot
Foreign investment in securitisation of micro-finance projects will have to wait for some time. The sector has already drawn the interest of the big guns in venture capital, including Silicon Valley-based guru Vinod Khosla.
NEW DELHI: Foreign investment in securitisation of micro-finance projects will have to wait for some time. The sector has already drawn the interest of the big guns in venture capital, including Silicon Valley-based guru Vinod Khosla.
The issue was taken up for discussion by the FIPB recently following a proposal by Developing World Finance to securitise micro loans worth $40m. The company had sought regulatory approval to set up a Microsec India Trust as a contributory trust.
The trust will undertake micro-finance securitisation transaction in India, financed by Microsec Cyprus which will be an investment vehicle "comprising reputable investors from Europe and North America."
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