Nine companies that specialize in impact investment reportedly will be establishing the “Indian Impact Investor Council” (IIIC) to establish guidelines helping investment companies in India regulate their efforts to meet social goals.
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Oxigen of India Unveils OxiCash Money Transfer Service
Oxigen, an India-based payment solutions provider, has announced a new mobile money transfer service called OxiCash, which is intended to provide poor people with a “mobile wallet” for receiving funds and transferring money between bank accounts.
MICROCAPITAL BRIEF: Accion Venture Lab Invests in 5 Startups Aiming to Bring Financial Services to Poor People, Including Salud Facil of Mexico, Varthana of India
Accion, a US-based provider of microenterprise loans and business training in 31 countries, has announced that its Accion Venture Lab, which provides seed capital and management support to financial inclusion startups, will invest an aggregate of USD 10 million in startup companies that deliver financial services to poor people around the globe.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) to Offer Validated Social Data from Microfinance Institutions
The Microfinance Information Exchange (MIX), a US-based nonprofit, recently announced plans to release a feature on its MIX Market website in 2013 that will allow users to search for “validated social data” from microfinance institutions (MFIs) and filter out those not reporting such data.
MICROCAPITAL BRIEF: Reserve Bank of India Aims to Increase Financial Inclusion in Unbanked Areas; Number of Indian Villages with Financial Access Tripled to 211k
According to data presented by Deepali Pant Joshi, executive director of Reserve Bank of India (RBI), at the recent International Summit of Skill Development in New Delhi, the number of villages with access to banks has risen from 67,000 in March 2010 to 211,000 in December 2012 out of a total of 600,000 villages in the country.
MICROCAPITAL BRIEF: Equitas, Ujjivan of India Each Borrow $10m from International Finance Corporation (IFC)
The International Finance Corporation (IFC), the private-arm of the World Bank Group, reportedly has announced it will lend USD 10 million in commercial funds each to Indian microfinance institutions (MFIs) Equitas and Ujjivan Financial Services.
MICROCAPITAL BRIEF: Microfinance Information Exchange Updates Online Funding Structure Database
The US-based nonprofit Microfinance Information Exchange (MIX) has updated its database on the debt owed by microfinance institutions (MFIs) to include 2011 data from 700 MFIs.
MICROCAPITAL BRIEF: International Finance Corporation Places $22m Equity Investment In Ratnakar Bank of India
The International Finance Corporation, a member of the World Bank Group, has made an equity investment of USD 22 million in Ratnakar Bank, a private commercial bank in India, to promote Ratnakar’s efforts to increase access to finance for women in rural areas and agricultural micro-, small and medium-sized businesses, and is reportedly part of INR 3.2 billion (USD 59.3 million) in equity raised by Ratnakar through the issuance of 30 million new shares since January 2013.
MICROCAPITAL BRIEF: Utkarsh Raises $3.7m in Equity from Aavishkaar Goodwell, International Finance Corporation, Norwegian Microfinance Initiative
Utkarsh Micro Finance Private Limited (Utkarsh), an Indian microfinance institution (MFI), reportedly has received an INR 200 million (USD 3.7 million) equity investment from Norwegian Microfinance Initiative (NMI) Frontier Fund, which provides technical and financial support to “emerging” microfinance institutions under the management of the public-private partnership NMI; Aavishkaar Goodwell India Microfinance Development Company (AG), an Indo-Dutch for-profit investor in Indian MFIs; and the International Finance Corporation, the private-sector investment arm of the World Bank Group.
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Institution Tiers, Microfinance in East Africa, Weather Risk Management
“Microfinance Institution Tier Definitions;” published by MicroRate; April 2013; 2 pages; available at http://www.microrate.com/media/downloads/2013/04/MicroRate-White-paper-Microfinance-Institution-Tier-Definitions.pdf
This report proposes a “tier system that defines microfinance institution [MFI] peer groups by institutional maturity to provide a foundation for industry analysis and informed dialogue.”
MICROCAPITAL BRIEF: Indian Microfinance Institution Bandhan to Apply for Banking License
Indian microfinance institution (MFI) Bandhan Financial Services Private Limited reportedly has announced plans to apply for a banking license under the revised regulations on new bank licenses recently issued by the Reserve Bank of India, the country’s central bank.
MICROCAPITAL BRIEF: Indian Microfinance Institution Satin Creditcare Sells 20% Equity Stake for $8m from Danish Microfinance Partners, MicroVest II, ShoreCap II; Lok Capital Exits
Indian microfinance institution (MFI) Satin Creditcare Network Limited recently raised INR 410 million (USD 7.5 million) by selling a stake of approximately 20 percent to three microfinance investment funds in undisclosed portions: Danish Microfinance Partners K/S (DMP), MicroVest II LP and ShoreCap II Limited.
MICROCAPITAL BRIEF: SKS Microfinance of India Completes Two Securitizations Totaling $41m
Indian microfinance institution (MFI) SKS Microfinance Limited recently completed two securitizations totaling INR 2.3 billion (USD 41.2 million), reportedly bringing the company’s total to 12 securitizations worth INR 12.1 billion (USD 220 million) during 2012 and 2013.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Loan Up to $11m to Suryoday Micro Finance of India
The International Finance Corporation (IFC), a member of the US-based World Bank Group, plans to loan up to USD 11 million to Indian microfinance institution (MFI) Suryoday Micro Finance Private Limited.
MICROFINANCE PUBLICATION ROUND-UP: Poverty Scorecard for Nicaragua, Financial Inclusion in Russia, Health Microinsurance in India
“A Simple Poverty Scorecard for Nicaragua;” by Mark Schreiner; January 2013; 189 pages; available at http://www.microfinance.com/English/Papers/Scoring_Poverty_Nicaragua_2009_EN.pdf
This document introduces an “easy-to-use” poverty scorecard based on household expenditure data from Nicaragua’s 2009 Living Standards Measurement Survey.
MICROFINANCE PUBLICATION ROUND-UP: Curbing Debt Stress, Social Performance in Mexico, UN Human Development Report: The Rise of the South
“Regulatory Options to Curb Debt Stress;” by Gabriel Davel; published by CGAP (Consultative Group to Assist the Poor); March 2013; 29 pages; available at: http://www.cgap.org/publications/regulatory-options-curb-debt-stress
This report highlights how the dynamics of credit markets can lead to cycles of credit growth and accumulation of consumer debt followed by widespread default and contraction.
MICROCAPITAL BRIEF: Asian Development Bank, Standard Chartered Bank Commit $150m to Microfinance in Asia
The Asian Development Bank (ADB), a multilateral finance institution based in the Philippines, reportedly has partnered with Standard Chartered Bank, a financial services company based in the United Kingdom, to increase access to financial services for poor people in Asia.
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Releases Regulations Governing New Bank Licenses
The Reserve Bank of India (RBI), the country’s central bank, recently released revised regulations for the licensing of new banks that allow private firms, public sector entities and non-banking financial companies (NBFCs) to establish banks through wholly-owned non-operative financial holding companies (NOFHCs).