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 … Continue reading “Finance Ministry begins consultations for enacting Microfinance Law”

Bandhan Financial Services IPO within 1000 days : News Digest

Bandhan Financial Services plans IPO in next three years Bandhan Financial Services, the micro-finance outfit which has been granted provisional bank licence by the Reserve Bank of India, plans to tap the capital market for its banking entity by launching its Initial Public Offering (IPO) within three years of starting operations. Read more on DNA … Continue reading “Bandhan Financial Services IPO within 1000 days : News Digest”

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 … Continue reading “What Narendra Modi can do for the Microfinance Sector ?”

Bandhan picks Deloitte for Banking Entry : News Digest

Bandhan picks Deloitte to help in banking entry Deloitte will assist the Kolkata-based microlender to chart out a road map to convert the entity into to a bank. Read more at Livemint SKS Trust sells big chunk of its stake in SKS Microfin SKS Trust has an additional stake of 4.88% in SKS Microfinance. Business … Continue reading “Bandhan picks Deloitte for Banking Entry : News Digest”

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 … Continue reading “Annapura Microfinance raises Rs 30 Crore in Funding – News Digest”

Micro Credit Society for street vendors launched – News Digest

Karnataka’s first micro credit society for street vendors launched in Mysore On Friday it launched Mysore City Street Vendors Multipurpose Cooperative Society, which has a seed money of Rs 5 crore to attend to the needs of street vendors in the city. Read more TOI Janalakshmi & Manipal Institute to train employees Three-week programme to … Continue reading “Micro Credit Society for street vendors launched – News Digest”

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 … Continue reading “Microfinance India – State of the Sector Report 2012 released”