MFI’s in Andhra get two more weeks to register

The AP High Court on Friday granted two weeks’ time to microfinance institutions in the state to get themselves registered with the district rural development agency (DRDA).

A two-member division bench, while dealing with a petition filed by SKS Microfinance, modified its earlier order, which allowed MFIs a week for registration and two days for submission of transaction details. Read more on Business Standard

AP forms 4 committees for implementing ordinance on MFIs

The Andhra Pradesh government today constituted four working committees for effective implementation of an ordinance issued by it to regulate the functioning of Micro-Finance Institutions (MFIs).

“It was noticed that there are many queries from both MFIs and the district-level Registering Authorities (RA) about interpretation of provisions of the Ordinance. Besides, there are many writ petitions filed before High Court challenging various provisions of the Ordinance and the Rules,” a GO issued by Rural Development department said. Read more on Business Standard

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And now, micro home loans

At a time when the microfinance industry has come under scanner after a number of suicide cases reported in Andhra Pradesh, Hyderabad-based Basix Group has launched a model that provides safe housing solutions, backed by micro home loans and livelihood schemes. The microfinance firm plans its own micro-finance housing arm by 2011. Read more on Hindustan Times

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