The focus on recovery helped the lender announce a fall in gross non performing assets to Rs 10,845 crore at the end December from Rs 11,135 crore a quarter back.
Ujjivan Managing Director Samit Ghosh said that the bank will test all the technical and connectivity issues over the next one month as a preparation before going full throttle.
IndusInd Bank had explored MFI buyouts but those talks did not progress much following reservations of some key officials.
Central Statistical Organisation had estimated a GDP growth of 7.1% for 2016-17 earlier in January, without taking into account the effect of note ban.
The bank's total income too fell to Rs 4864 crore from Rs 4935 crore in the year ago period. Profit before tax was however higher at Rs 889 crore compared with Rs 745 crore.
The online marketplace connects borrowers who are in need of money to lenders who are ready to invest for higher returns.
The Rs 55,000-crore sector may see loan losses in the range of 1-3% of the overall portfolio, Antique Stock Broking said in a research report.
For the first time since its inception in 1926, the bank sold shares in a private placement to institutional investors which included Axis Bank, IDBI Bank, Aviva Life Insurance and DHFL Pramerica Life.
The micro lender disbursed Rs 2,981 crore in the quarter, which was 34 per cent more than the corresponding period last year.
Muthoot Microfin-Creation deal marks a major step in the country's microfinance sectors post demonetisation. This is also first-ever private equity investment in Muthoot Group.
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