Microfinance News Digest

Kerala government planning crackdown on private MFI’s – News Digest

Crackdown on private microfinance institutions: Oommen Chandy
The Kerala government plans to crack down on private microfinance institutions in the state in view of complaints that some of them are exploiting the public by charging high rates of interest, Chief Minister Oommen Chandy said here on Wednesday. ET

kerala microfinance mfi Image-credit:commons.wikimedia.org

Why the Microfinance Bill is a good move
Mukul Asher & Savita Shankar DNA

AP refuses to budge on microfinance legislation
The battle over the regulation of India’s Rs. 20,000 crore microfinance industry is far from over, with Andhra Pradesh, the largest market for Indian microlenders, remaining firm on retaining its own law on the issue despite a proposed national legislation LM

Trident Micro plans to convert debt into equity
Trident Microfin has proposed to convert its debt into equity through a consortium of bankers led by the Indian Overseas Bank. The company is expecting to raise a minimum of Rs 70 crore through this conversion. FE

Wage protests shut Yunus’s Bangladesh factory
Grameen Knitwear, one of dozens of businesses the 2006 Nobel Peace Prize laureate has launched, was closed after more than 2,000 workers vandalised the $23 million plant on Tuesday, local police chief Sirajul Islam said. AFP

Muhammad Yunus banks on beating the enemies of microfinance
The Nobel peace prize winner discusses recent attacks on his schemes to relieve poverty, from within Bangladesh and abroad. GD

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