Hit by controversy, SKS could lose its corporate partners

SKS Microfinance, hit by large-scale defaults by borrowers following the Andhra Pradesh government ordinance on regulating micro finance institutions (MFIs), is running the risk of losing its corporate partners. Retail, insurance, housing finance and FMCG companies that had made a beeline to SKS Microfinance, are re-looking at their existing partnerships with the controversy-ridden company, which is the only listed MFI in the country. SKS enjoys business partnerships with Nokia, HDFC, Airtel, Future Group, Bajaj Allianz, Metro Cash and Carry, Hindustan Lever and many more. Sources in the know said that a few companies had signed agreements with SKS to use ...

More...