Microfinance News Digest

IFC to invest US$ 1 Billion for inclusive growth in India : News Digest

Interview with Vice President, IFC

What are your plans for investments in India during the current year ?
In the year 2011, our commitments in the entire South Asia was about US $ 742 million. This year, we are planning to invest about US $ 1 billion in India alone. Read the rest of the Interview on Business Standard

 

international finance corporation

Debt trap turns tragic for Andhra MFI chiefs
Two suicides by MFI CEO’s in recent months after banks refused to restructure microfinance institutions’ debt. BS

Andhra microfin firms failed to assess loan need
Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty on Tuesday blamed the failure of microfinance institutions in Andhra Pradesh to their inability to provide loans in sync with customers’ capacity to repay. BS

Basix’s lending business slows to a trickle
Basix’s performing loan book is now just around Rs. 124 crore, compared with Rs. 1,808 crore in September 2010. LM

Left in a limbo
Self-help groups have little reason to cheer for the recently tabled Microfinance Institutions Bill. Hindu

U.K. award for Karnataka rural development project
The Shri Kshethra Dharmasthala Rural Development Project (SKDRDP) was awarded the £40,000 prize money at a ceremony in London last week. Judges described SKDRP as a “fantastic example” of how ethically managed microfinance could deliver sustainable energy to the poor. Hindu

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