SKS Microfinance Fails to Get Small Bank License, Stock Sinks 20%

SKS Microfinance shares fell as much as 20 per cent on Friday as it failed to bag the Small Bank license from the Reserve Bank of India. The Reserve Bank of India on Wednesday granted small finance bank licenses to 10 entities, out of which eight are microfinance institutions. SKS is the only large microfinance player, which failed to get a small bank license. SKS Microfinance had also failed to get a payments bank license, which R...