Five Indian microfinance institutions (MFIs) are reportedly looking to raise between INR 800 crores (USD 175 million) and INR 1,000 crores (USD 218 million) in new loans even as they wait for word on proposed debt restructuring plans.
Search Results for: pradesh
MICROCAPITAL BRIEF: BBC World Service Radio Program Wins One World Media Award for Criticism of Microfinance: “Assignment: India’s Microcredit Meltdown”
The One World Award for a Radio Program, presented annually by UK-based nonprofit One World Media to recognize exceptional coverage of issues in the developing world, has been awarded to the BBC World Service, a radio network supported by the UK government, for its piece entitled “Assignment: India’s Microcredit Meltdown.”
MICROCAPITAL BRIEF: Women’s World Banking (WWB) CEO Mary Ellen Iskenderian Anticipates Risks from “Over-Regulation” of Indian Microfinance Sector
In an email interview published on the website of Indian newspaper Mint, Mary Ellen Iskenderian, President and CEO of Women’s World Banking (WWB), a US-based advisor to and network of microfinance institutions (MFIs), offered an assessment of the Indian microfinance sector and the potential results of new and proposed regulation.
MICROFINANCE PAPER WRAP-UP: Microfinance in India – A Crisis at the Bottom of the Pyramid; Published by Legatum Ventures
Published by Legatum Ventures; May 2011; 11 pages; available at http://www.legatum.org/attachments/MicrofinanceCrisis.pdf
MICROCAPITAL BRIEF: Could Guarantees from Wealthy Individuals Get Microfinance Institutions (MFIs) Through Rough Patch?
Good Magazine, a US-based media platform that reports on social causes, recently argued that guarantees offered by wealthy individuals to microlenders could assist microfinance institutions (MFIs) in accessing funding during a difficult time for the industry, following claims of “loansharking” by some Indian microlenders.
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Enacts Most of Microfinance Guidelines Proposed by Malegam Committee
The Reserve Bank of India (RBI), India’s central banking authority, recently announced that it has accepted – with some modifications – the framework of recommendations issued by the Malegam Committee for the country’s microfinance industry.
MICROCAPITAL BRIEF: Women Lose Out as Moneylenders Regain Ground From Indian Microfinance Institutions (MFIs) Pinched by Liquidity Crunch
A recent article in US-based newspaper The Washington Post spotlights the impact that the recent liquidity crunch for microlenders in the Indian state of Andhra Pradesh has had on women, who make up a majority of the microborrowers in the state, in particular as a result of a reemergence of unregulated moneylenders.
MICROCAPITAL BRIEF: Fitch Ratings Stresses Importance of Single Regulator for Indian Microfinance Sector
Multiple Indian newspapers have cited an unnamed report on Indian microfinance regulation from global ratings agency Fitch that reportedly states that a single regulatory body is crucial to ensuring a stable Indian microfinance sector and that future legislation affecting microfinance should be developed through cooperative efforts between state and federal authorities.
MICROCAPITAL BRIEF: Wall Street Journal Publishes “India Journal: Linking Health and Microfinance” By Somen Soha of Indian Institute of Public Health, Marcia Metcalfe of Freedom From Hunger
Mr Somen Saha, senior lecturer at the Indian Institute of Public Health in the state of Gujarat, and Ms Marcia Metcalfe, director of microfinance and health protection at California-based international development nonprofit Freedom from Hunger, recently co-authored an article that was published on the website of US-based newspaper The Wall Street Journal wherein they argue for the integration of health care with microfinance in India.
MICROCAPITAL BRIEF: Cresa Microfinance, Sharada’s Women’s Association for Weaker Section (SWAWS) Microfinance of India Face Possible Bankruptcy
The Microfinance Institutions Network (MFIN), an association of Indian microfinance lenders, recently reported that several small and medium-sized microfinance institutions (MFIs) in India may soon file for bankruptcy as a result of decreasing liquidity.
MICROCAPITAL BRIEF: India’s Business Standard Reports a Third of Indian Banks’ Loans to Microfinance Institutions (MFIs) in Restructuring, Which Analysts Argue is Inadequate to Solve Sector Issues
The Business Standard, an Indian financial newspaper, recently reported that a third of the loans made by Indian banks’ to microfinance institutions (MFIs) are in the process of being structured, due to the MFIs inability to repay following the turmoil in the sector in the state of Andhra Pradesh that began in late 2010. According to a report by the Malegam Committee, a sub-committee of the Reserve Bank of India, as of March 2010 approximately INR 138 billion (USD 3.06 billion) in loans were outstanding to MFIs from the Small Industries Development Bank of India, a government-owned bank providing credit to medium and large-scale MFIs and other banks. The report also stated that banks hold an additional INR 42 billion (USD 932 million) in securitized paper from MFIs.
MICROCAPITAL BRIEF: Social Venture Capital Firm Dia Vikas Capital Makes Investments Totaling $6.1m in Indian Microfinance Institutions (MFIs) BWDA Finance Limited, Rashtriya Gramin Vikas Nidhi North East, ESAF Microfinance and Investment Private Limited, Cashpor Microcredit
Indian social venture firm and subsidiary of nonprofit Opportunity International Australia, Dia Vikas Capital recently invested INR 278 million (USD 6.1 million) in equity and debt and across four microfinance institutions (MFIs) in India.
MICROCAPITAL BRIEF: Indian Banks Seek Personal Guarantees from Microfinance Institution (MFI) Executives As Condition of Debt Restructuring
Indian banks that have entered negotiations with microfinance institutions (MFIs) regarding restructuring wholesale microfinance debt have reportedly insisted on personal repayment guarantees from MFI directors [1].
MICROCAPITAL BRIEF: SKS Microfinance of India Sells $135m in Securitized Loans
SKS Microfinance, an Indian for-profit MFI, recently announced the sale of securitized loans worth INR 6.1 billion (USD 135 million), in an effort to increase liquidity amidst a funding shortage that is one part of the turmoil in the microfinance industry in the Indian state of Andhra Pradesh.
MICROFINANCE EVENT: Microfinance Crisis in India: Local and Global Implications – A Panel Discussion, April 8, 2011, Hosted by the American University, Washington DC, USA
Event Name: Microfinance Crisis in India: Local and Global Implications – A Panel Discussion
Event Date: April 8, 2011, 5.00 pm – 6.30 pm
Event Location: Room 120, School of International Service (SIS), American University, Washington DC
MICROCAPITAL BRIEF: Bankers Urge Reserve Bank of India’s (RBI’s) Malegam Committee to Maintain Priority Status for Microfinance Sector
Bankers in India recently met with the Reserve Bank of India’s (RBI’s) Malegam Committee, headed by central bank director Y H Malegam, to discuss the work of the committee and to urge RBI to maintain the sector’s priority status.
MICROCAPITAL BRIEF: Indian Banks Collaborate on Restructuring Loans to Microfinance Institutions (MFIs), SKS Opts Out
Indian banks that have disbursed loans to microfinance institutions (MFIs) have reportedly prepared a blueprint for restructuring these loans. Under the proposal, Indian microfinance institutions (MFIs) would be given a maximum of ten years to repay loans to financial institutions at an interest rate of 12 percent. The loans that would be restructured under the proposal are estimated to total INR 130 billion (USD 2.8 billion) [1].
MICROCAPITAL EVENT: Fourth Annual Convergences 2015 – Working Towards the Millennium Development Goals, Paris, France, May 3-5, 2011
Event Name: Fourth Annual Convergences 2015 – Working Towards the Millennium Development Goals
Event Date: May 3 – May 5, 2011
Event Location: City Hall, Paris, France