Barclays launches Microfinance Initiative in India

August 23, 2010
Barclays microfinance

Barclays, CARE International and Plan International have joined together to launch Banking on Change, a three year global community investment programme aimed at improving the quality of life of 500,000 disadvantaged people by developing and extending access to basic banking services. ‘Banking on Change’ is being implemented across 11 countries in Asia, Africa and South [...]

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Top 100 Microfinance Institutions in the World

August 23, 2010
top 100 microfinance companies mix

For the third year running, MIX has released it’s Composite Ranking of the performance of microfinance institutions and Grameen Financial Services Pvt Ltd is the highest ranked Indian MFI at No 4 . Next comes SKS Microfinance at No 7, followed by Spandana at No 8. BASIX is ranked at No 11, SHARE at No 12 [...]

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Equitas Microfinance gets Rs 45 Crores investment from Canaan Partners

August 23, 2010
equitas canaan

Venture capital firm Canaan Partners has committed investments of nearly 140 crore in two firms including a microfinance institution (MFI), a top executive said on Wednesday. The fund has invested approximately Rs 45 crore in the Chennai headquarted Equitas Microfinance.The other investment is in Naaptol Online Shopping Pvt. Ltd,(http://www.naaptol.com/). The investment by Canaan in a [...]

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Value and Budget Housing in Bangalore – Get a home for Rs 4.5 Lakhs only !

August 23, 2010
Value and Budget Housing

Value and Budget Housing Corporation (VBHC) last week launched Vaibhava, its first housing project in Bengaluru.The project will offer apartments starting from Rs 4.5 lakhs and going upto Rs 10 lakhs. Value and Budget Housing Corporation (VBHC) has been started by Jerry (Jaithirth) Rao, former Chairman of Mphasis and P.S. Jayakumar (formerly Consumer Banking Head, [...]

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7th WiMAX INDIA Conference focuses on developments in the WiMAX technologies

August 23, 2010
wimax India

“The mobile revolution is now rolling & WiMAX will accelerate it” New Delhi- Current developments in the WiMax technologies are offering mobile personal broadband users to create whatever they want on a variety of devices from the laptop to cell phones making a huge difference to user experience. Revealing this at the WiMax India 2010 conference [...]

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Sa-dhan State Chapter formed in West Bengal

August 23, 2010
saadhan kolkotta

After much discussions and interactions, the Association of Community Development Finance Institutions (Sa-Dhan) has established its second state chapter in West Bengal on the 30th of July 2010. The decision was unanimously made and passed by the house.This has been in continuation to its Orissa state chapter which was set up earlier in the month. [...]

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SKS Micro finance employees become millionaires

August 21, 2010
sks employees

Employees of India’s largest microfinance company SKS Microfinance have made  huge profits after the company got listed last week. It is believed that atleast 20 of it’s employees have become millionaires. Mr Appana Srikanth, assistant vice-president sold 7,500 shares at an average price of Rs 1,123, netting him Rs 84 lakh. Mamta Bharadwaj, another senior official, [...]

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Spandana Microfinance IPO to raise Rs 1500 Crore

August 21, 2010
Spandana Microfinance IPO

Spandana Microfinance –  India’s second largest microfinance company after SKS Microfinance, plans to raise around Rs 1,500 crore through an initial public offer (IPO), its managing director Padmaja Reddy has confirmed in an interview. Spandana Microfinance is said to be in talks with Citigroup, Morgan Stanley and JM Financial to finalize the details of it’s [...]

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Spandana Microfinance Interview by CNBC-TV18

August 21, 2010
spandana interview

In an interview with CNBC-TV18, Padmaja Reddy, MD, Spandana Spoorthy Microfinance spoke on what the company proposes to do with the proceeds of the IPO. Below is a verbatim transcript. Q: What do you plan to do with this Rs 1500 crore that you are proposing to raise ? A: We need Rs 1500 crore [...]

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Karnataka Govt to create new post of Micro Financing Minister

August 21, 2010
karnataka micro financing

Karnataka’s Minister for co-operatives Mr Lakshmana Sangappa today announced at a function that the government was planning to introduce additional micro financing facilities for the poor and to implement this it was looking into creating a new post of Micro Financing Minister. According to Mr Lakshmana Sangappa, a bill is  also being drafted to reign [...]

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CGAP launches Financial Inclusion Regulation Center

August 21, 2010
financial inclusion cgap

CGAP has launched a new Financial Inclusion Regulation Center to provide a broad, timely collection of the laws and regulations most relevant to key financial inclusion topics. The Regulation Center serves as an easily accessible resource for multiple purposes. Visit the center to know more about regulations affecting financial inclusion in India at the link [...]

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Suvidhaa gets US$ 7 Million Funding from IFC

August 21, 2010
suvidhaa ifc

IFC, a part of the World Bank has invested US$7 million in Suvidhaa’s Inforserve.Norwest Venture Partners and Reliance Venture Asset Management were the other two investors who took part in the second round of funding.Suvidhaa Infoserve Pvt. Ltd offers e-services to customers who are looking for travel, utility, e-Governance and entertainment related services. Suvidhaa will [...]

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Grameen Foundation Launches new website Mifos.com

August 21, 2010
grameen mifos

Grameen Foundation today announced the launch of Mifos.com, a Web site that provides information about and details customer successes with the open-source management information system Mifos.Mifos is now available on a cloud platform called the Mifos Cloud. At Mifos.com, visitors — who typically range from CEOs of microfinance institutions (MFIs) to key players in the [...]

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India WiMAX subscriber base to hit 19 million by Year 2012

August 21, 2010
indian wimax event

The 7th WiMAX India 2010, 1 day International Conference & Exhibition, is being held on August 20, 2010 at Le Meridien, New Delhi. Organized by Bharat Exhibitions, WiMAX India is India’s Premier & only event on WIMAX for promoting WIMAX in fast growing Indian Telecom Industry. 7th WiMAX India 2010 will offer the best business [...]

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Learn English on your 3G Mobile Phone

August 21, 2010
english one 97 communication

By Himansh Dhomse, DNA-Daily News & Analysis Delhi-based telecommunication value-added services providing company, One97 Communications is working on a product of interactive teaching of English language on mobile phone. “Through 3G, we would able to offer interactive English learning at Re1 per day and one can learn as much he wants. Once 3G services are [...]

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MicroSave releases booklet on Optimising Performance and Efficiency in MFI's

August 21, 2010
microsave mfi

The Savings is the third publication under the Optimising Performance and Efficiency (OPE) Series. The OPE Series brings together key insights and ideas on specific topics, with clear objective of providing microfinance practitioners with practical and actionable advice. This Savings Booklet brings together a set of brief publications which delve into MicroSave’s rich sectoral expertise [...]

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Muhammad Yunus wins the 2010 SolarWorld Einstein Award

August 21, 2010
yunus einstein

SolarWorld is to present the 2010 SolarWorld Einstein Award to Nobel Peace Prize laureate and micro-finance pioneer Muhammad Yunus in September. The award is being presented in recognition of Yunus’ micro-loans for the poor, created through Grameen Bank, of which he is founder, which have made possible the installation of more than 400,000 small solar [...]

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Microfinance Innovation Conference 2010

August 21, 2010
conference washington

Innovation in Microfinance Analysing New Investment Opportunities, Innovative Products, New Delivery Channels & Emerging Regions Conference: October 25th & 28th 2010. Crowne Plaza Hamilton, Washington D.C Early Bird Rates available until Friday Sept. 3 – save up to US$450 ! Mainstream Investors Drawn To Microfinance From 2005 to 2009, MIV assets grew from $1.2 billion [...]

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Bangalore techie takes local garage sales online

August 21, 2010
online classifields roopit

By Team DNA , DNA-Daily News & Analysis Shivakumar Ganesan was content with his job at Yahoo and then Flipkart, an online bookstore until early this year when he was looking out to buy a used refrigerator. Not knowing where to turn to strike the right deal, Ganesan decided to set up Roopit — a [...]

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Ensure your credit report is free of mistakes

August 18, 2010
credit report

By Harsh Roongta, DNA-Daily News & Analysis Make it a practice to review your credit history at least once a year to avoid last-minute surprises For five years, Nitin Vohra saved up to buy an apartment.His joy knew no bounds when he found his dream home — it was from a reputed builder and was close [...]

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