Microfinance News Digest

RBI increases Domestic Money Transfer Limits – News Digest

RBI increases domestic money transfer limits
The Reserve Bank of India (RBI) has provided an impetus to financial inclusion by liberalising money transfer across the country. The apex bank has issued guidelines to open up the formal banking channel to facilitate fund transfers of small value, subject to monthly ceilings and monitoring. BS
rbi microfinance india

Nabard funds study on mobile-enabled Kisan credit cards
Nabard has funded Rs 44.66 lakh to regional rural bank Pallavan Grama Bank, which is conducting a pilot study to launch mobile-enabled Kisan credit cards for farmers in Villupuram district, with a view to reduce transaction costs and improve efficiency. FP

India’s self-help movement
With international organizations pushing to eradicate extreme poverty and hunger, a project comprised of numerous self-help groups (SHGs) in India has also scaled up its efforts. The Andhra Pradesh Rural Poverty Reduction Project, a micro-financing initiative, aims to enable the rural poor in the province of Andhra Pradesh, India, to improve their livelihoods and quality of life. TI

AP MFI Act: No apex court relief for SKS
SKS Microfinance Ltd did not get any immediate relief from the Supreme Court in its petition against Andhra Pradesh Microfinance (Regulation of Money-lending) Act, 2010.HBL

For Arunachalam, MFI Industry Still Has Lessons to Learn
Ramesh Arunachalam is a development practitioner whose expertise includes urban poverty alleviation as well as microfinance, a field he unabashedly supports while remaining a staunch critic. After decades of close work with Microfinance Institutions (MFIs) and various stakeholders including governments and regulators, he recently published “The Journey of Indian Microfinance: Lessons for the Future.” NB

MFIs Should Do Responsible Finance: What about the rest of us?
The next post in a new blog series on responsible finance from longtime observer and commentator on the Indian microfinance scene, Srinivasan. We look forward to your comments in the coming weeks. CGAP

Rural Marketing Startup-Frontier Markets Raises Funding From Seedfund
Jaipur based rural marketing and distribution startup – Frontier Markets has raised first round of funding from Seedfund.DC

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