{"id":118847,"date":"2019-04-15T17:30:16","date_gmt":"2019-04-15T17:30:16","guid":{"rendered":"https:\/\/www.bnreport.com\/mfis-resources-mobilisation-through-securitisation-up-170-in-fy19\/"},"modified":"2019-04-15T17:30:16","modified_gmt":"2019-04-15T17:30:16","slug":"mfis-resources-mobilisation-through-securitisation-up-170-in-fy19","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/mfis-resources-mobilisation-through-securitisation-up-170-in-fy19\/","title":{"rendered":"MFIs\u2019 resources mobilisation through securitisation up 170% in FY19"},"content":{"rendered":"<p>Mumbai: Tight liquidity conditions forced <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/Microfinance-institutions\" rel=\"noreferrer noopener\" target=\"_blank\">Microfinance institutions<\/a> that turned into NBFCs to raise around Rs. 26,200 crores through securitisation in FY19, up 170% compared to Rs. 9,700 crores raised in FY18, according to ratings firm <a href=\"https:\/\/economictimes.indiatimes.com\/icra-ltd\/stocks\/companyid-1311.cms\" rel=\"noreferrer noopener\" target=\"_blank\">Icra<\/a>.<\/p>\n<p>\u201cSecuritisation has always been an important funding tool for NBFC-MFIs, but the dependence was particularly high during the second half of fiscal 2019\u201d said Vibhor Mittal, Group Head \u2013 Structured Finance Ratings at Icra. In FY18 and the first half of FY19, securitisation contributed to only 18 \u2013 20% of the overall disbursements<\/p>\n<p>Investors were also buying retail loan portfolios from <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/MFIs\" rel=\"noreferrer noopener\" target=\"_blank\">MFIs<\/a> instead of direct on-balance sheet credit exposure, especially for small and medium sized firms, Icra said.<\/p>\n<p>Icra has also seen a sharp increase in the number of NBFC-MFIs taking part in the securitisation market in FY19. 43 entities raised funds through the securitisation route in FY2019 (as opposed to only 24 such entities in FY 2018). Out of this, as many as 14 entities were first time entrants in the securitisation market which is an encouraging development. However, tighter liquidity in the market resulted in increased funding cost. The yields were higher by 100-150 bps for both Priority Sector Lending (PSL) driven and non-PSL transactions in Q3 FY19 over the lows seen in FY18. However, with som<a href=\"https:\/\/economictimes.indiatimes.com\/markets\/stocks\/news\/mfis-resources-mobilisation-through-securitisation-up-170-in-fy19\/articleshow\/68893220.cms\" rel=\"noreferrer noopener\" target=\"_blank\"><strong>Read More \u2013 Source<\/strong><\/a><br \/>\n[contf]<br \/>\n[contfnew]<br \/>\n        <img decoding=\"async\" src=\"https:\/\/img.etimg.com\/photo\/60278104.cms\"\/><\/p>\n<h5><a href=\"https:\/\/economictimes.indiatimes.com\/\" rel=\"noreferrer noopener\" target=\"_blank\">ET Markets<\/a><\/h5>\n<p>[contfnewc]<br \/>\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai: Tight liquidity conditions forced Microfinance insti..<\/p>\n","protected":false},"author":1,"featured_media":118848,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-118847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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