Arman Microfinance Stock on high after Rights Issue announcement

August 9, 2010
arman microfinance india

Arman Financial Services Ltd, a listed micro finance company is trading near it’s 52 Week high after it announced that it planned to go in for a rights issue soon. In a meeting held by the Board of Directors of Arman Financial Services , the following proposals were approved – 1. Call off Management proposal [...]

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MFIN to make accreditation with credit bureaus compulsory for MFI's

August 9, 2010
mfin credit burea microfinance

The Microfinance Institutions Network (MFIN), a self-regulatory organisation of microfinance companies is planning to make accreditation with two credit bureaus mandatory for all its members.MFIN members are mostly Non Banking Finance Companies(NBFC’s).MFIN also plans to enforce strict adherence to the conduct code formulated a couple of months ago. The Microfinance Institutions Networks ( MFI N) [...]

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RBI asks banks to reconsider subsidized loans to For Profit MFI's

August 9, 2010
rbi for profit microfinance

The Reserve Bank of India (RBI) has raised questions over nationalized banks lending to for profit microfinance institutions at below market rates in a recently held meeting. Many nationalized banks lend to MFI’s with the aim of meeting their priority sector lending targets at interest rates which are lower than those charged to Leasing and [...]

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SIDBI gets Rs 265 crore from DFID for capacity building of Microfinance Institutions

August 9, 2010
sidbi dfid microfinance fund

The Small Industries Development Bank of India (SIDBI) has received a fresh £36 million commitment from UK’s Department for International Development (DFID) to kick off an inclusive growth projects in four states of India. Developmental organistions and microfinance institutions in Bihar,Orissa,Uttar Pradesh and Madhya Pradesh are expected to benefit from this fund. At the current [...]

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BASIX Group promotes gender equality through BWLC's

August 9, 2010
basix gender equality women

BASIX Women’s Leadership Council (BWLC) have been formed to identify and nurture women leaders within the BASIX Group As a part of their organizational vision to make BASIX the “Greatest Place to Work In”, the Group Chairman, Vijay Mahajan and the BSFL CEO Sanjeev Viswanathan, envisioned the expansion of scope of the leadership pool to [...]

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BSFL releases first Micro Housing Loan in Delhi

August 9, 2010
bsfl basix micro housing loan

Bhartiya Samruddhi Finance Limited (BSFL), a company of BASIX group and among the top 5 microfinance institutions in India has formally launched its micro housing loan product with the inauguration of its first customer’s house in the last week of July, 2010 in New Delhi. The product has been rolled out with technical assistance from [...]

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NASSCOM releases list of 50 emerging startup companies in India

August 9, 2010
nasscome 50 innovative startup india

Eko India Financial Services – A financial transaction platform delivering basic banking services through mobile access devices has been selected in the top 50 emerging companies to watch out in India After the success of last year’s listing, the EMERGE Forum within NASSCOM has begun work in full earnest for the 2010 listing.  In addition to [...]

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NASSCOM – Emergeout conclave on 25th August 2010, Gurgaon

August 9, 2010

Mobile Internet and AppStore – The next big game changer for Startup/Emerging Companies The 5th edition of EMERGEOUT beckons. This is one platform which the EMERGE community really looks forward to, which has added tremendous value to the SME companies. Not withstanding, even those outside the purview of small & medium have gained from some of [...]

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National Summit on e-Governance – 27th August 2010,New Delhi

August 9, 2010
nationa summit delhi 2010

7th National Summit on e-Governance : Scaling the Next Phase of Inclusive Growth ASSOCHAM in association with the Ministry of Communications & Information Technology, Government of India, other concerned Ministries, State Governments and the Industry will be organizing the 7th National Summit on E-Governance on the 27th August 2010 at Hotel Le Meridien, New Delhi With the [...]

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Banex – Nicaragua's biggest MFI files for liquidation

August 9, 2010
banex nicaragua microfinance

It is expected that in the next few days, the Nicaraguan banking authorities will announce the liquidation of Banco del Exito, known as Banex, until recently the largest Nicaraguan MFI. Earlier this year Banex, underwent financial restructuring after suffering from severe portfolio deterioration. However, these efforts have not sufficiently stabilized the organization.Several weeks ago, the [...]

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Multifaceted Business Initiatives Work Best for Emerging Economies

August 9, 2010
forex course

Written by guest contributor Jennifer Gorton from Forex Traders The issue of poverty around the world, especially in developing countries where a stable business infrastructure is lacking, has been attacked on several fronts by many international organizations and donor networks for decades.  Unfortunately, the recent global recession has caused a slowdown in many of these [...]

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Google backed SONG acquires stake in K-12 Techno Services

August 4, 2010
Google song k12

SONG Advisors, a Mauritius based fund owned by the Soros Economic Development Fund, Omidyar Network and Google has announced that it will be investing about US$4 million (Rs 18.5 crore) in two ventures in affordable education and healthcare in India. The investments will be made in K12 Techno Services ( http://k12technoservices.com ) which is an end to end [...]

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UIDAI releases revised Aadhaar Handbook for Registrars

August 4, 2010
uidai biometric accenture mahindra

The Unique Identification Authority of India( UIDAI) has released a revised handbook for registrars and organisations that want to know more about how the government’s ambitious projcect Aadhar will be implemented. The handbook provides an overview about Aadhar along with it’s various applications. The report also includes information about Aadhar based micro payments system and Aadhar [...]

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Microfinance and Mobile Banking

August 4, 2010
microfinance cgap

CGAP has released a detailed report on the evolution and challenges facing the marriage of Microfinance with Mobile banking. The paper examines the various models currently prevalent among microfinance institutions,their evolution and the future of mobile banking in the microfinance sector. The note also includes examples of various successful mobile banking networks in Africa and [...]

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Financial Inclusion and Digital Payment Conference on 6th August 2010

August 4, 2010
iamai financial inclusion conference

The Internet and Mobile Association of India (IAMAI) is organising the 3rd Financial Inclusion & Digital Payment Conference with the aim of working out a common agenda and pathway to ensure adequate access to financial services at an affordable cost and in a transparent manner through various institutional agencies. The conference on 06 August, 2010 [...]

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Grameen Koota to raise Rs 100 Crore

August 4, 2010
grameen koota

Grameen Koota, a Bangalore headquartered microfinance institution with operations in South India is looking at raising Rs 100 crore in equity and expects to close the placement within the next couple of months. Grameen Koota plans to use the funds raised to meet its credit requirements, and also as capital for it’s soon to be …

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Ujjivan Microfinance raises Rs 45 Crore

August 4, 2010
ujjivan 45 crore ncd

Ujjivan Financial Services Private Limited has raised Rs 45 Crores through Non-Convertible Debentures Bangalore headquartered Ujjivan Financial Services Private Limited, a microfinance institution (MFI), has raised Rs 45 Crores (US$ 10 Million) by way of private placement of Non-Convertible Debentures (NCD).  Standard Chartered Bank is the sole book runner and lead arranger for this issue. [...]

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SKS Microfinance to list on August 16 2010

August 3, 2010
sks listing date aug

Market sources have revealed that SKS Microfinance is planning to list on August 16th,2010. August 16th is all scheduled to be a red letter day for the micro finance sector in India with SKS Microfinance planning to list on that day. August 16th will be a Monday and the starting of trading week in India. [...]

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SKS Microfinance Share Price set at Rs 985, Retail Investors to pay Rs 935

August 3, 2010
sks share price

SKS Microfinance will now be looking at a potential valuation of $1.5 billion at the upper end of the price band. SKS Microfinance will also issue shares at a Rs 50 discount to retail and small investors. After the successful closure of it’s IPO, SKS Microfinance in consultation with it’s lead running book managers has decided [...]

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SKS Microfinance IPO oversubscribed – Could list above Rs 1200

August 3, 2010
sks ipo

SKS Microfinance, the Indian Microfinance Institution backed by investors which included Sequoia Capital, Narayan Murthy,Vinod Khosla and George Soros closed it’s IPO yesterday and had received bids for 13.69 times the stock available in an initial public offering. The portion allocated to QIB’s was oversubscribed 20.38 times,while the portion for HNI’s was oversubscribed by 18.62 [...]

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