Microfinance News Digest

Microfinance Bill : Is it needed? : News Digest

Do we still need a microfinance Bill?
Now that RBI has defined the sector, it might be best left to the central bank to continue refining the regulation. Read more at LM

Microfinance industry going all out to regain lost glory with women power
Beleaguered microfinance industry is turning to women power to lift it out of the depths. The fairer sex is increasingly occupying the rank and file of recovery agents of lenders to the poor as the industry attempts to restore its past glory after charges of molestation and browbeating made it an unwanted child. ET

Growth in credit to priority sector slows to 10% in October

The slowdown is on account of lower offtake by agriculture and MSME segments as well as decline in micro credit.ML

MFIs concerned over raising funds post RBI guidelines

Even as most microfinance institutions (MFIs) have welcomed the Reserve Bank of India (RBI)’s move of bringing them under its direct regulation as a non-banking financial company (NBFC), the former have expressed concerns over meeting capital requirements prescribed in the guidelines issued by RBI. ET

 

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SKS to Set Up Non-Microlending Unit

SKS Microfinance Wednesday said it plans to set up a separate unit for its non-microlending business, a segment it expects will contribute more to revenues over time.WSJ

Microfinance’s Latest Challenge: Cutting Back on Over-indebtedness Among Its Poorest Clients

Long before “99%” became a symbol of Occupy Wall Street, the microfinance industry used the number to describe the share of its clients — poor entrepreneurs shunned by traditional banks — who repaid their micro-loans on time. K@W

Small, micro lenders stare at zero net worth

It may be the final nail in the coffin of small and mid-sized micro-lenders in Andhra Pradesh. These firms, already battling mounting losses and rising non-performing assets, say they will have to shut shop as higher provisioning needs, mandated by the Reserve Bank of India (RBI), will wipe out their net worth. BS

40 SKS Microfin staff set to join Akula’s venture

Barely 12 days after SKS Microfinance founder and chairman Vikram Akula resigned from the company board in the wake of mounting losses, about 40 senior staff members put in their papers last week. These members, owing allegiance to Akula, are expected to join his new venture. BS

Lessons In Micro-lending At World Vision’s Women’s Prayer Breakfast HFP

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