Microfinance News Digest

L&T Finance to re-evaluate it’s microfinance business model – News Digest

L&T Finance Holdings Ltd, part of country’s largest engineering company Larsen & Toubro, is planning to re-evaluate its microfinance business model. The non-banking finance company is now planning to shift the microfinance business to a newly-incorporated wholly-owned subsidiary L&T Unnati.BS

L T Microfinance

Microfinance ‘did tremendous job in poverty alleviation despite limitations’
Speakers at a seminar on Tuesday said microfinance did a tremendous job in poverty alleviation despite some limitations, as traditional financial systems have failed to benefit the poor. FE

Establish standards for MFI independent directors as first step to ensure good corporate governance
The RBI and the Union Finance Ministry must provide clear guidelines on the appointment, roles, compensation and evaluation of independent directors for microfinance companies, critical for effective and ethical operations. ML

IFC to take 20% stake in Tata-sponsored NBFC
International Finance Corporation (IFC) is set to take a 20 per cent stake in FinCo, a non-banking finance company sponsored by Tata Capital Limited. BS

Including Everyone in the National Pension Scheme: Review of the CRIISP Report
The Committee to Review Implementation of Informal Sector Pension (CRIISP) recently released their report focusing on National Pension Scheme (NPS), its design architecture, its performance till date and recommendations for increasing outreach and awareness about the product. IFMR

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