The microfinance portfolio of the SKS Mircofinance, which is worth Rs 100 Crore, has been acquired by the IndusInd Bank through the allotment of agriculture advances. It is by February next year that IndusInd, a private sector bank, is expected to take the balance Rs 50 Crore micro-finance portfolio on its books.

The latest acquisition by the IndusInd Bank will help it enter into the agri products as well as microfinance sectors. Commenting on this development, Suhail Chander, head, corporate and investment banking, IndusInd Bank, said, ‘The transaction allows our bank to diversify our asset base by partnering with globally recognized microfinance players.’