Symbiotics, a Switzerland-based for-profit investment intermediary, recently issued bonds for Coopeservidores, a Costa Rican savings and credit cooperative, in the amount of USD 12.5 million; Fusion Microfinance, an Indian microfinance institution (MFI), in the amount of USD 7 million; and Suryoday Microfinance Private Limited (Suryoday), another Indian MFI, in the amount of USD 6.8 million.
Search Results for: India
MICROCAPITAL BRIEF: Mutual Funds in India Invest $157m in Secured Debentures of Microfinance Institutions (MFIs) Equitas, Janalakshmi, SKS, Ujjivan
Several mutual funds based in India, including Industrial Credit and Investment Corporation of India (ICICI) Prudential Mutual Fund, Housing Development Finance Corporation (HDFC) Mutual Fund, Kotak Mutual Fund, Reliance Mutual Fund and State Bank of India (SBI) Mutual Fund, recently invested in secured debentures issued by several Indian microfinance institutions (MFIs).
MICROCAPITAL BRIEF: BIO, Oikocredit Invest $8.3 million in Fusion Microfinance of India
Fusion Microfinance (Fusion), a microfinance institution (MFI) based in New Delhi, has received a combined investment of INR 53 crores (USD 8.28 million) from Belgian Investment Company for Developing Countries SA (BIO), an investment company backed by the government of Belgium; and the Dutch cooperative investment fund Oikocredit.
MICROCAPITAL BRIEF: India’s Bandhan Financial Services Receives Banking License Permitting it to Accept Deposits; Plans to Begin Banking Operations in August 2015
The Indian microfinance institution, Bandhan Financial Services, which received a provisional banking license from the Reserve Bank of India (RBI) in 2014, recently announced that it has received final approval from RBI that allows it to accept deposits. The organization intends to start offering banking services beginning August 23, 2015.
MICROCAPITAL BRIEF: India’s SKS Microfinance Cuts Interest Rates by 1.55%
Indian microfinance institution SKS Microfinance, which is listed on India’s National Stock Exchange and the Bombay Stock Exchange, announced recently that it would reduce its microloan interest rates from 23.55 percent to 22 percent as of July 1, 2015.
MICROCAPITAL BRIEF: India’s Muthoot Microfin to Raise $80m from Private Equity Investors for Expansion, Infrastructure Expense
Muthoot Microfin Limited, a microlending member of the Muthoot Pappachan Group (MPG), which is based in the state of Kerala, India, announced recently that it plans to raise INR 5 billion (USD 80 million) from private equity investors to fund the company’s capital expenditure, infrastructure and expansion plans.
MICROCAPITAL BRIEF: Three Social Security Insurance, Pension Schemes Launched in India; Banks May Bear Subsidy Costs
The administration of Indian Prime Minister Narendra Modi reportedly has launched three new social security schemes in an effort to increase access to insurance and pension coverage for a “large” segment of India’s population.
MICROCAPITAL BRIEF: Belgium’s Impulse Microfinance Investment Fund Exits from MFIs in India, Mexico
During the year ending December 2014, the Impulse Microfinance Investment Fund (Impulse Fund), which is managed by Belgium’s Incofin Investment Management (Incofin), sold its equity stakes in India-based Grameen Koota and the Mexican operations of El Salvador-based Apoyo Integral Inversiones, according to a recent announcement by Incofin.
MICROCAPITAL BRIEF: Parinaam Foundation of India Launches Financial Literacy Program in Tribal Communities of Garo, Jaintia, Khasi
The Parinaam Foundation, a nonprofit organization that provides social services to women in India, has partnered with the World Bank Group, a group of five multilateral organizations that invest in developing countries, and the government of the Indian state of Meghalaya to offer a financial literacy training program to individuals in three tribal communities: Garo, Jaintia, and Khasi.
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Easing Regulations to Allow Microfinance Institutions (MFIs) to Loan up to $1,600 to Borrowers Earning up to $2,500
The Reserve Bank of India (RBI), the central banking authority of the country, recently announced that it raised the limit on the total of all loans disbursed by microfinance institutions (MFIs) to a single borrower from INR 50,000 (USD 790) to INR 100,000 (USD 1,600).
MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $16m to Indian Microfinance Institution (MFI) Janalakshmi Financial Services
The Indian unit of UK-based commercial institution Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of INR 985 million (USD 15.5 million) to Janalakshmi Financial Services (JFS), an Indian microfinance institution (MFI).
MICROCAPITAL BRIEF: Grameen Capital India Raises Undisclosed Sum to Loan to Social Enterprises
Grameen Capital India, a Mumbai-based social business, recently raised fresh investment funds to provide debt finance for social enterprises in India from new investors including Ratan Tata, the former chairman of the India-based conglomerate Tata Group; Shrinivas Dempo, the chairman of Indian mining company Dempo Group; and Indian investment banker Vikram Gandhi. This is in addition to additional funds sourced from existing investors, the US-based nonprofit organization Grameen Foundation and two individual Indian investors, Amit Patni and Arihant Patni [1].
MICROCAPITAL BRIEF: Standard Chartered Bank (SCB) Loans $6m to Indian Microfinance Institution (MFI) Sonata Finance
The Indian unit of UK-based commercial financial institution Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of INR 370 million (USD 5.8 million) to Sonata Finance Private Limited, an Indian microfinance institution (MFI) that serves India’s northern states.
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Grants Self-Regulatory Organization (SRO) Status to Indian Microfinance Network Sa-Dhan
Sa-Dhan, a microfinance network in India with 251 member organizations, reportedly has been granted status as a self-regulatory organization (SRO) by the Reserve Bank of India, the country’s central banking authority.
MICROCAPITAL BRIEF: Standard Chartered Bank Loans $14m to Indian Microfinance Institution (MFI) SKS
The Indian unit of UK-based Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of INR 900 million (USD 14 million) to SKS Microfinance, a for-profit Indian microfinance institution (MFI).
MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) to Loan $20m to India-based Caspian Impact Investment (CII)
Overseas Private Investment Corporation (OPIC), a government-backed development finance institution based in the US capital of Washington, DC, recently agreed to loan USD 20 million to Caspian Impact Investments (CII), a fund launched in 2013 by Indian investment management and advisory services company Caspian Advisors Private Ltd.
MICROCAPITAL BRIEF: Standard Chartered Bank of India Loans $5m to Indonesian Microfinance Institution (MFI) Mitra Bisnis Keluarga (MBK) Ventura
The Indian unit of UK-based commercial financial institution Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of IDR 60 billion (USD 5 million) to Mitra Bisnis Keluarga (MBK) Ventura, a non-banking microfinance institution (MFI) founded in Indonesia in 2003. Additional information regarding the terms of the loan is not available.
MICROCAPITAL BRIEF: India’s West Bengal State Offers MSMEs $8k via Unsecured “Micro Business Credit Cards,” Funded by $32m from State Bank of India
The government of the Indian state of West Bengal recently secured INR 2 billion (USD 32 million) from the government-owned State Bank of India to fund “Micro Business Credit Cards” for micro-, small and medium-sized enterprises.