Microfinance News Digest

Micro Credit Society for street vendors launched – News Digest

Karnataka’s first micro credit society for street vendors launched in Mysore
On Friday it launched Mysore City Street Vendors Multipurpose Cooperative Society, which has a seed money of Rs 5 crore to attend to the needs of street vendors in the city. Read more TOI

Janalakshmi & Manipal Institute to train employees
Three-week programme to be open to employees of microlender Janalakshmi to provide banking services to urban poor.Livemint

janalakshmi financial services

SKS Microfinance may raise Rs 3,000 cr next fiscal
SKS Microfinance, India’s only listed micro lender, may raise Rs 3,000 crore during the next fiscal to meet its lending requirements, a senior official of the company said. Zee News

Frontier Fund Invests Rs 25 Crore In Fusion Microfinance
The Norwegian Microfinance Initiative’s Frontier Fund (NMI) has made a R25 Cr ($4.5 Mn) Series B investment in Fusion Microfinance Private Limited. Silicon India

​Banks lending to MFI on the rise
The dust in the micro finance industry that began in October 2010 in Andhra Pradesh is settling down with banks’ advances to the sector showing a pick up. TOI

Microfinance wave hits Myanmar
A social enterprise in Myanmar has introduced a microfinance scheme to villagers – helping residents grow their business. Such a programme is rare in the country but it is hoped that this initiative will expand to benefit even more low-income villagers in the future.CNA

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