Microfinance News Digest

Financial Inclusion Is Where The Action will be in 2011

By Sanketh Arouje – Leader, Economic Analysis, Dun & Bradstreet India

Uptick in consolidation, thrust on financial inclusion and credit growth to mark the banking industry in 2011.

The Indian banking sector has been an integral part of the overall economy growing with and supporting the growth of other sectors. The sector has withstood the global financial turmoil with little disruption and continued to grow at a healthy pace.

Some key trends expected are – Read more on VC-Circle

M & M Fin Services to raise Rs 570 cr via QIP

Non-banking finance company Mahindra & Mahindra Financial Services last week said its shareholders have approved raising Rs 570 crore through placement of securities with qualified institutional investors. Read more on Economic Timesmahindra micro finance

Bessemer, Lightspeed Invest Rs 70Cr In Indian Energy Exchange

Silicon Valley headquartered investors Bessemer Venture Partners and Lightspeed Venture Partners have invested Rs 70 crore in Indian Energy Exchange Ltd (IEX), the country’s largest power trading exchange. Read more on VC-Circle

Former Indian Cricket Team Captain launch sports education outfit Tenvic

Tenvic, Anil Kumble’s start-up venture, will focus on providing sports education and training at mainstream schools across the country. The name is inspired by his ten-wicket haul against Pakistan at Ferozeshah Kotla in 1999.

Besides Anil and his brother Dinesh, Tenvic’s other investors include former BNP Paribas Securities MD Praveen Chakravarty and former table tennis champion Vasant Bharadwaj . The firm is currently in the process of raising between $5 million and $10 million from venture capitalists for the initial business scale-up .

Read more: The Times of India

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