chennai asirvad microfinance ltd an nbfc mfi and subsidiary of manappuram finance ltd has securitised by direct assignment microfinance loans worth rs 262 crore in a deal with a leading public sector bank in india proceeds from the loan availed will enable asirvad to expand its business of providing small loans to lowincome women business owners in rural areas to start and expand their incomegenerating business the announcement comes at a time when the microfinance sector in india has faced higher stress from lockdowns imposed after the onset of the second wave of the pandemic earlier in may 2021 the company raised a us 15 million loan from worldbusiness capital inc which is based in hartford connecticut usa raja vaidyanathan md of asirvad microfinance ltd said this deal following closely on the heels of an ecb transaction with the usbased worldbusiness capital reaffirms the confidence that leading lending institutions have in indias microfinance sector and its prospects for growth