Microfinance News Digest

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 sks

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 legislations to regulate micro-finance institutions (MFIs), including the ones regulated by the Reserve Bank of India, there will be 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 programme. IBN

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