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

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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

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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 to access public money

Indian microfinance institutions (MFIs) may soon be allowed to collect small deposits, or thrifts, from borrowers once the new national regulation on the crisis-gripped sector comes into play. LM

Has financial innovation led to faster growth?

Though several banks offer mobile banking, few people use it either because of lack of awareness or fear of security lapses.LM

Effective regulation needed for financial innovation

Exotic financial derivatives that masked credit risk contributed to the 2008 meltdown and underlined that financial innovation is a double-edged sword. LM

RBI voices concern over State Govts regulating microfinance institutions

If State Governments start enacting their own legislation to regulate micro-finance institutions (MFIs), including the ones regulated by the Reserve Bank of India, there will be a plurality of regulation leaving scope for regulatory arbitrage, says the report on ‘Trend and Progress of the Banking in India 2011-12′. HBL

SBI reactivates DRI scheme for loans to weaker sections

State Bank of India (SBI), the country’s largest lender, today reactivated its differential rate of interest (DRI) scheme to provide loans to weaker sections as part of the financial inclusion program. IBN

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