‘Investment market still robust despite slowdown’

November 17th, 2008 - 9:15 pm ICT by IANS  

New Delhi, Nov 17 (IANS) Leading non-banking finance company SKS Microfinance, which added 400,000 customers last month, Monday said the investment market in India was still robust despite the market volatility.”We added 400,000 new customers last month and our loan recoveries are as high as 99.5 percent which is far greater than the conventional banking system,” SKS Microfinance founder and chief executive officer Vikram Akula told reporters here on the sidelines of the World Economic Forum-India Economic Summit.

Akula said the company has no problem with the Reserve Bank of India (RBI) imposing regulations on mobile banking.

“We don’t mind the regulation if that makes the RBI comfortable,” he said.

Talking about the market volatility, Hemendra Kothari, chairman of financial services firm DSP Merrill Lynch, said: “There is short of liquidity all around the world… we need to inject more liquidity in to the market to ease the prevailing tension.”

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