Microfinance News Digest

Britain to provide Rs 9000 crore aid to Indian Private Sector : News Digest

Britain’s £1.2-b aid to India will focus more on private sector
Britain has struck a deal with India over the provision of £1.2 billion worth of aid for the next few years, which will give the private sector a prime place in its plans. In India, British aid will be focused on Bihar, Orissa and Madhya Pradesh, with £280 million a year allocated up until 2015. Wealth creation projects, focusing on women, will account for the largest spend – £341 million over the period. Read more HBL


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Understanding the Second Great Contraction: An interview with Kenneth Rogoff
The economist and coauthor of This Time Is Different explains what history can teach us about the global downturn and why climbing out of it is still rife with risks. MCK

SEWA : Last of the Gandhian Economics ?
Team Inclusion recently visited several villages in Gujarat to bring you the first hand experience of how Gandhian ideals of self-reliant village economy or Swaraj, are as relevant as ever and also practiced in letter and spirit. Inclusion

Microfinance body admits goof-ups
MFI Network, an umbrella body of non-banking finance company (NBFC) microfinance institutions (MFIs) that also seeks to serve as a self-regulatory body, admits that the sector erred in chasing a high growth trajectory at the expense of corporate best practices as it went for coercive methods in loan recovery while keeping interest rates two or three times that of banks. HT

An incomplete story from the microfinance world : M.S Sriram
Given the current vitiated atmosphere for MFIs, there was a need for some credible voice based on solid data and research to bring to the fore the debate on the legitimate role of MFI’s. LM

Consolidation inevitable for AP crisis-hit MFI sector
Allaying fears about the credit bureau, Alok Prasad, CEO, Microfinance Institutions Network (MFIN), tells FE’s BV Mahalakshmi that the bureau would help in fresh borrowings and sieve out defaulters. Excerpts: FE

Kotak sues Trident over loan default
The bank initiated legal action against CEO Puli Kishore Kumar and five other directors after some cheques issued to it by Trident bounced. LM

Indian banking transforming from class to mass banking
The transition from class banking to mass banking due to financial inclusion and increased customer focus is drastically changing the landscape of Indian banking.BS

6,000 villages in AP to have BCs by Dec
Banks in Andhra Pradesh are expected to complete the appointment of business correspondents to over 6,000 villages with a population of 2,000 and more where no bank branch exists, by the end of this calendar year, a state finance department official said here on Tuesday.BC

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