Microfinance News Digest

MFI’s must for poor – News Digest

Microfinance institutions are must for poor, says NCAER
Amid growing criticism about microfinance institutions (MFIs) for profiteering from unfairly high rates of interest, National Council for Applied Economic Research has come out with a study “Assessing the effectiveness of small borrowings” which finds a whopping 64 per cent of 11,000 households surveyed, borrow from MFIs despite having formal bank accounts. DH


poverty india

MFI’s not going to solve poverty problems: Jairam Ramesh
Micro-finance institutions (MFIs) are not going to solve India’s poverty problems, but they could be an instrument in bringing people to the web of financial services, the Union Minister for Rural Development, Mr Jairam Ramesh, has said. HBL

Focus on social objective, MFI’s told
Investors are employing agencies, apart from their own staff, to check whether the poor are the real beneficiaries. LM

Just what is poverty, really?
Though the government has said the number of poor will no longer be determined only by the Tendulkar poverty line, the affidavit filed by the Planning Commission in the Supreme Court, on the question of what constitutes the poor, has once again brought to the forefront the highly contentious issue of poverty estimation. NCAER

Mobile phone: Weapon against global poverty. CNN

Now, do more than borrow cash at ATM’s
Automated teller machines, or ATMs, seem to be getting ever more powerful as banks push the branchless-banking concept.DNA

Plastic money: Sign of modernising economy
It is believed that mobile devices like phones and PDAs would soon replace cash transactions. FC

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