SKS Microfinance share price rises by Rs 60 on expectations of good results

SKS Microfinance’s stock price rose by Rs 57.75 at the end of yesterday’s trading.The stock was up by 5.34 % on the expectations that it will report better than expected results. The Stock made a high of Rs 1164.30 and a low of Rs 1071.00 in the days trading before closing at Rs 1140.00.SKS Microfinance’s … Continue reading “SKS Microfinance share price rises by Rs 60 on expectations of good results”

Download Andhra Pradesh Microfinance Ordinance 2010 PDF

IMBN has acquired a copy of the ordinance and is making it available for download on our website for the benefit of our readers. Download a copy of the Andhra Pradesh Microfinance Institutions (regulation of money lending) Ordinance, 2010 at the link below. Andhra MFI Ordinance PDF-10pages-100KB The content matter of the PDF file above … Continue reading “Download Andhra Pradesh Microfinance Ordinance 2010 PDF”

Corrigendum – Bandhan Article

Please refer to the article Bandhan Microfinance to begin lending to smaller MFI’s. Bandhan Microfinance has informed IMBN that the above article which inferred that Bandhan Microfinance is planning to re-lend a part of Rs.350 Crore term loan received from SIDBI to smaller MFI’s in the region is incorrect. Bandhan Microfinance has clarified that it  shall not … Continue reading “Corrigendum – Bandhan Article”

SIDBI initiates Microfinance Lenders forum to promote responsible microfinance

Major microfinance lenders of India have come together to set up a Lenders’ Forum to promote transparent, responsible and commercially sustainable industry practices and codes of conduct so as to better safeguard the interests of the poor and the unbanked who form their client base. The Lenders’ Forum – possibly the first such initiative globally … Continue reading “SIDBI initiates Microfinance Lenders forum to promote responsible microfinance”

SKS Microfinance Stock drops by Rs 80 on concerns of rising defaults

SKS Microfinance’s stock has dropped by about 7% in early morning trade and is currently trading down by Rs 80 at Rs 1056. On friday the stock had dropped by around Rs 90  and closed at Rs 1135.90.Today it opened at Rs 1133 before taking a nosedive on the back of heavy selling. The stock … Continue reading “SKS Microfinance Stock drops by Rs 80 on concerns of rising defaults”

Government Probe blames Big MFI’s for current crisis in Andhra

Probe nails MFIs, but biggies still in denial A government investigation into the spate of suicides reported in recent weeks — allegedly due to loan recovery harassment — has established that most of the victims were borrowers from big and registered microfinance institutions (MFIs) and that they had indeed been subjected to coercive and unethical … Continue reading “Government Probe blames Big MFI’s for current crisis in Andhra”

MFI Interest Rates to be capped at around 24% – Unofficially

Interest rates on loans from microfinance institutions (MFIs) are likely to be capped at around 24 per cent. Currently, MFIs are charging 26-40 per cent on small loans extended to their rural customers — many of whom are yet to get even a bank account — while urban customers get personal loans at 12 per … Continue reading “MFI Interest Rates to be capped at around 24% – Unofficially”