Microfinance News Digest

Indian Microfinance sector may decline 20-40 % in 2011-12 – News Digest

Microfinance sector may decline 20-40% this year
According to the data available with Microfinance Institutions Network (MFIN) for the first five months of 2011-12, the decline in portfolio is almost inevitable. HBL

 

india microfinance sector

Meet India’s Top Corporate Philanthropists
Shiv Nadar, the Founder of HCL, has donated over 580 crore. He earned the amount by selling his stake of about 2.5 percent in the company owned by him. By far the amount donated by Nadar is bigger than standards set by large firms. SI

Digital Payment Industry Needs Multiple Models To Push Financial InclusionTC

Will common borrowers benefit from new banking licences?
The step will encourage competition, which will result in lower interest rates and customized loan and deposit products for the consumer. LM

Expand rural ATM network to enable subsidy, entitlement transfers: Govt tells public sector banks
With financial inclusion being one of the top social agendas of the UPA Government, the ATM procurement process by public sector banks is likely to undergo a sea change. The Finance Ministry has asked public sector banks to work out the modalities of joint sourcing of ATMs, State/district wise. HBL

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