Category: Microfinance News Digest

sks microfinance

Finance Ministry begins consultations for enacting Microfinance Law

Government prepares to frame laws for micro finance institutions Government has started consultations with all stake-holders, including state governments, for enacting a law to regulate Micro Finance Institutions (MFIs) for ensuring interests of customers. Read more on DNA FII stake in SKS Microfinance soars to record high of 44.61% in April-June quarter Continuing with the […]

microfinance india

What Narendra Modi can do for the Microfinance Sector ?

5 issues in microfinance sector that need Narendra Modi’s attention Vijay Mahajan, social entrepreneur, Founder and Chairman of BASIX Group lists five issues for new Narendra Modi government. Read more on Business Today Micro finance industry’s gross loan portfolio up 35% in FY14 NBFC-MFI’s, other than those under corporate debt restructuring witnessed a growth of […]

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Annapura Microfinance raises Rs 30 Crore in Funding – News Digest

Annapurna Microfinance Pvt. Ltd (AMPL) on Wednesday said it raised Rs 30 crore from the Belgian Investment Company for Developing Countries (BIO) and Belgium-based Incofin Investment Management’s Rural Impulse Fund II, an existing investor. Read more on Livemint Bandhan Financial Services raises Rs 100 crore from in NCDs Microfinance company Bandhan Financial Services has raised […]

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Microfinance India – State of the Sector Report 2012 released

Chidambaram releases State of the Sector Report 2012 at Microfinance India conclave According to the State of the Sector Report 2012, brought out under the aegis of microfinance facilitation organisation Access Development Services, the loan amount disbursed by microfinance institutions, as well as the average loan ticket size, has shown signs of recovery in fiscal […]

gold investment

RBI planning to screw gold loan companies next? : News Digest

Gold loan growth pace worries RBI; Muthoot, Manappuram hit The Reserve Bank of India is worried about the scorching pace at which loans-against-gold have been growing of late, an official at the banking regulator told CNBC-TV18. Gold loans at last draw RBI’s attention RBI’s order to prohibit Manappuram from accepting/renewing deposits comes 14 months after Moneylife […]

ministry of finance india

Finance ministry clears Microfinance Bill in 2012 : News Digest

Finance ministry clears proposed national microfinance law The finance ministry has cleared national legislation to govern microfinance institutions that, if passed in its entirety, will make the central bank the sole regulator of the Rs. 20,000 crore industry.Read more on LM Two microfinance veterans are launching one of the first funds of funds to focus on […]

mfi india

Can india’s MFI industry be saved? News Digest

Can india’s MFI industry be saved? Andhra Pradesh, India’s fourth largest state by area and fifth largest by population, has set a world record. About 9.2 million borrowers in the southern state have defaulted in repaying money borrowed from microfinance institutions (MFIs)—the largest number of defaulters in any location in the world. Read more on […]

sks microfinance

Microfinance Bill : Is it needed? : News Digest

Do we still need a microfinance Bill? Now that RBI has defined the sector, it might be best left to the central bank to continue refining the regulation. Read more at LM Microfinance industry going all out to regain lost glory with women power Beleaguered microfinance industry is turning to women power to lift it out […]

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Bandhan microfinance overtakes SKS as India’s largest MFI – News Digest

SKS loses top slot as largest Indian microlender SKS’s total loan book stood at Rs.2,635 crore in Sep, compared with Kolkata-based Bandhan Financial’s Rs.2,713 crore. LM   Bandhan Financial Raises $7Mn Debt From responsAbility Social Investments Bandhan Financial Services has raised $7Mn debt from Switzerland based responsAbility Social Investments AG. DC MFIs may be allowed […]

financial inclusion india

How to face the Global Economic Crisis ? News Digest

Facing the next financial crisis The global financial crisis of 2008, precipitated by the collapse of Lehman Brothers, was a traumatic experience for the entire world. FE   FinMin for white-level ATMs to boost banking access In a bid to increase the penetration of banking services, the Finance Ministry has favoured setting up of white-level […]

poverty india

MFI’s must for poor – News Digest

Microfinance institutions are must for poor, says NCAER Amid growing criticism about microfinance institutions (MFIs) for profiteering from unfairly high rates of interest, National Council for Applied Economic Research has come out with a study “Assessing the effectiveness of small borrowings” which finds a whopping 64 per cent of 11,000 households surveyed, borrow from MFIs despite […]