SKS to Add Financial Services to Microfinance as Founder Quits
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SKS Microfinance Ltd., an Indian lender to the poor backed by Sequoia Capital, plans to branch out into financial services including life insurance targeting the country’s rural regions after its founder quit.
“Going forward, we will look at elements other than microfinance that are relevant for financial services in the rural areas,” said P.H. Ravikumar, who took over as interim chairman after founder Vikram Akula stepped down yesterday.