The News Digest(ND) comprises of news summaries, press releases and important statements related to microfinance, banking, financial services and financial inclusion in India published by various media outlets during the week.
Read previously published News Digests.
Microfinance staff seek greener pastures
SKS Microfinance Ltd, India’s largest and only listed microfinance institution (MFI), has seen an exodus of at least 3,000 of its employees in the three months ended 31 March. LM
Filling the gap in micro housing
After micro finance, micro housing is becoming a buzz word. The sector is not only attracting domestic companies, but also luring foreign financial service firms and institutional players. BS
Banks oppose fresh loan to Share Microfin by StanChart
Standard Chartered Bank’s plan to offer a short-term loan to Share Microfin to allow the company redeem non-convertible debentures has hit a roadblock. Other banks that had agreed to restructure their loans to the Hyderabad-based microfinance institution have opposed the move. BS
One number to rule all transactions
Capital market regulator Securities and Exchange Board of India (Sebi) and the Unique Identification Authority of India (UIDAI) are considering linking all securities transactions with the UID (unique identification) or Aadhaar number and will soon launch a pilot project to explore how this can be done. LM