Microfinance News Digest

How Janalakshmi Microfinance bucked the downtrend in Indian Microfinance

How Janalakshmi got to the top
Janalakshmi’s loan book has been skyrocketing — growing 200 per cent year on year, from Rs 60 crore in 2009 to about Rs 450 crore today. It has had no problems raising money—its funders have been Lok Capital, Treeline, Citicorp Venture Capital, among others—some of the first-round investors having partially exited with attractive returns of over 25 per cent.Read more BS 

janalakshmi financial

MFI Saija Finance gets $4.5-mn investment
After raising $4.5 million (Rs 25.08 crore) from Accion and Pragati India fund, microfinance company Saija Finance Ltd is looking to expand its business and product portfolio through acquisitions.BS

RBI likely to relax norms for NBFC-MFIs
Central bank may give more time to comply with norms relating to loan tenure and borrowers’ income cap. Live Mint

MFIs report 15% contraction in loan book
Microfinance institutions (MFIs) that work outside Andhra Pradesh have registered a growth in loan disbursement, while their counterparts focusing on the state have posted a decline. BS

The technological opportunity in payments
In the olden days, the field of payments was inextricably interlinked with banking. Money was only held in bank accounts; the only way to move money around was through banks. AS Blog

NCR makes wireless withdrawals in under 10 seconds at the ATM
A new software from NCR Corporation will allow consumers to initiate cash withdrawals from their banking accounts on mobile devices and then complete those transactions at an ATM by scanning a 2D barcode. ET

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