Microfinance News Digest

Leapfrog invests Rs 67 Crore in Shriram Credit Co Ltd – News Digest

LeapFrog to invest Rs 67 cr in Shriram Capital arm
US-based LeapFrog Investments has announced an investment of Rs 67 crore in Shriram Credit Co Ltd, the financial services distribution subsidiary of Shriram Capital. HBL

 

shriram leap frog

Microfinance Lenders: To Profit or Not To Profit
Microfinance has been touted as an instrument that can raise the incomes of those living below the poverty line. But, can the Microfinance Institutes (MFIs) also make profit while “doing good?” Professor Krishnamurthy Subramanian compares the nonprofit and for-profit MFIs to examine whether profit maximisation by an MFI compromises on its social objectives. FB

Q&A: Udaia Kumar, MD, SHARE Microfin
‘Funding for MFIs continues to be subdued’ BS

Ratings firms liberal with MFIs: M-Cril
Sinha says sufficient branch-level investigation and interaction with clients weren’t done. LM

MFIs propose unique merger plan
The microfinance trio—Spandana Sphoorty Financial, SHARE Microfin and Asmitha Microfin—have proposed to merge their operations. This includes the setting up of three corporate entities, the waiver of capital adequacy ratio in one of the new entities and entry into new businesses, according to sources familiar with the development. BS

‘RRBs slowing down pace of financial inclusion’
The state level bankers’ committee (SLBC) has held regional rural banks (RRBs) responsible for the slow pace of growth in achieving financial inclusion in Karnataka.BS

RBI draft norms to dent NBFCs’ profitability: Crisil
Higher provisioning and capital adequacy norms, as recommended by the working group of the Reserve Bank of India (RBI) on non-banking finance companies (NBFCs), may affect the profitability and non-performing asset (NPA) norms of these companies. BS

Nabard to raise at least Rs 5 billion via bonds: Sources
e National Bank for Agriculture and Rural Development ( NABARD) plans to raise at least 5 billion rupees through five-year bonds at 9.40 percent, a source with direct knowledge of the deal told Reuters. Reuters

Ex-wife puts Vikram Akula in a spot
Even as high profile SKS Microfinance founder Vikram Akula is busy battling dissent from within to retain control over India’s largest MFI as executive chairman, his estranged wife Malini Byanna has now landed in Hyderabad, queering the pitch further. TOI

The business of banking in India over the past three years
The Reserve Bank of India (RBI) recently came out with draft guidelines for the entry of new private sector banks into the sector. Most major corporate houses in India including the Tatas, Ambanis, Mahindras, Birlas, Bajaj Group etc are all ready to jump on the bandwagon. EQM

Prizm Payment plans Rs 1000 Crore capex for ATM/POS network
Sequoia Capital-backed Prizm Payment Services Ltd plans capital expenditure of Rs 1,000 crore over three years to scale up its network for electronic payment modes like Automated Teller Machine (ATM) and Point of Sale (POS) networks. BS

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