Microfinance News Digest

Microfinance Companies in India sell cycles to survive : News Digest

Microfinance institutions selling cycles to survive
Some MFIs are morphing into cycle sellers and pawn shops, while others are dreaming of an IPO. Ever since microfinance became a dirty name – seen as a driver of suicides and the subsequent harsh legislative measures in Andhra Pradesh – microfinance institutions have been struggling to survive.Read more on Rediff

 

microfinance india

Profit motive has ruined idea of micro-finance for poor
Muhammad Yunus, the winner of 2006 Noble peace prize and founder of Bangladesh microfinance firm Grameen Bank, in an interaction with the media on Monday, outlined initiatives like Grameen’s joint venture with French major Danone to produce yogurt for children and with BASF to produce treated mosquito nets to the poor. FC

L&T Finance to register microfinance arm
While most non-banking finance corporations (NBFCs) continue to shy away from the micro-lending business, L&T Finance is ready to take the leap and expand its microfinance operations. BS

Micro branches to cater to rural areas
The Union finance ministry has directed banks to set up ‘ultra small’ branches in all villages under the financial inclusion scheme by March 31. BS

Why rural India isn’t slowing
Mint’s reporters and editors sifted through data and trawled the countryside to find out why marketeers are cheering the R-word. LM

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