Microfinance News Digest

How to face the Global Economic Crisis ? News Digest

Facing the next financial crisis
The global financial crisis of 2008, precipitated by the collapse of Lehman Brothers, was a traumatic experience for the entire world. FE

 

global crisis

FinMin for white-level ATMs to boost banking access
In a bid to increase the penetration of banking services, the Finance Ministry has favoured setting up of white-level ATMs in the country. White-level ATMs are not owned by banks but by private ATM service providers. Customers from any bank can deposit or withdraw money from such ATMs. FE

India Post’s ATM plans hit RBI hurdle
India Post’s plan to set up automated teller machines (ATMs) in its post offices may fail to impress the banking regulator.BS

Venture funds may also hurt business, and how!
VCs go for exits as diligently as they plan entries, if unprepared this can cause distress.FC

Wadhwani Foundation to invest $5 million to support entrepreneurs
NEW DELHI: Wadhwani Foundation is expected to invest USD 5 million (about Rs 25 crore) this fiscal to educate and support potential entrepreneurs, who will help create 5,000-10,000 jobs a year in India. ET

Aavishkaar II Makes First Close At $62M; Targets $120M By June 2012
Aavishkaar Venture Management, a venture capital firm focused on India’s rural areas and bottom-of-the-pyramid space, has made the first close of its new fund at $62 million within nine months after its launch. VC

Home financiers go to town for growth. FC

Lenders may restructure debt worth Rs 1 lakh cr in 18 months, says Icra
With rising interest and input costs and project delays hurting companies, lenders are expected to restructure loans amounting to Rs 1 lakh crore over the next 12-18 months, according to the estimates of ratings agency ICRA. BS

Good harvest profits not aplenty for India’s farmers
What has hurt profitability most, farmers say, is rising wages for labourers, driven by government efforts to ensure a minimum level of paid work for rural households under its National Rural Employment Guarantee Act. LM

No fresh MFI loans in AP a year after ordinance
Microfinance institutions operating in Andhra Pradesh have stopped making fresh loans due to their mounting non-performing assets, given the limited scope of recovery a year after the state government promulgated an ordinance regulating their activities.BS

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