Deputy Governor Anand Sinha of the Reserve Bank of India (RBI), India’s central banking authority, reportedly announced in a budget speech that RBI does not support allowing microfinance institutions (MFIs) to take deposits from clients.
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MICROCAPITAL BRIEF: Microfinance Institutions Network (MFIN) Asks Reserve Bank of India (RBI) to Assist in Recovering Loans Outstanding in Andhra Pradesh
Microfinance Institutions Network (MFIN), a trade association of 46 Indian microfinance lenders, reportedly has requested that the Reserve Bank of India (RBI) intervene on behalf of microlenders attempting to collect INR 7,000 crore (USD 1.36 billion) in loans outstanding in the Indian state of Andhra Pradesh.
MICROFINANCE PUBLICATION ROUND-UP: Microinsurance and Child Labor; Benin Poverty Scorecard; Effect of Recession on Microcredit Sector
“Does Microcredit Increase Child Labour in Absence of Microinsurance?” by Sayan Chakrabarty; published by the Microinsurance Innovation Facility, European Development Network and International Labour Office; February 2012; 35 pages; available at:
http://www.ilo.org/public/english/employment/mifacility/download/repaper12.pdf
MICROCAPITAL BRIEF: Chinese Government Establishes 12 Goals to Improve Local Capital Markets, Access to Finance for Private Small and Medium-Sized Enterprises
The Chinese government’s State Council recently identified 12 measures to improve local capital markets, Chinese financial institutions and access to finance for Chinese private enterprises that are small and medium-sized.
MICROCAPITAL BRIEF: Nigeria’s National Association of Microfinance Banks (NAMB) Aims to Lower Cost of Borrowing for Microfinance Institutions (MFIs)
The Lagos State Chapter of the National Association of Microfinance Banks (NAMBLAG), a trade group of 820 microfinance banks (MFBs) in Nigeria, has reportedly taken measures seeking to reduce the cost of borrowing to single digit interest rates.
MICROCAPITAL BRIEF: Bangladeshi Microfinance Borrowers Earn $47m in Interest on Mandatory Savings; Microcredit Regulatory Authority to Boost Enforcement of Required Interest Payments by MFIs
According to data attributed to the Microcredit Regulatory Authority (MRA), an organization that supervises microfinance operations of Bangladeshi nongovernmental organizations, microfinance borrowers in Bangladesh earned BDT 3.8 billion (USD 46.5 million) in interest on their savings for the period from July to December in 2011.
MICROFINANCE PUBLICATION ROUND-UP: Social Cash Transfers and Financial Inclusion, Investment and Microfinance Repayment Crises, Cashless Funeral Microinsurance
“Social Cash Transfers and Financial Inclusion: Evidence from Four Countries;” by Chris Bold, David Porteous and Sarah Rotman; published by CGAP (Consultative Group to Assist the Poor); February 2012; 28 pages; available at: http://www.cgap.org/p/site/c/template.rc/1.9.56877/
MICROCAPITAL BRIEF: National Automotive Council of Nigeria Launches $6.3m Microcredit Facility for Mechanics
The National Automotive Council (NAC), an agency of the Nigerian government, is planning to formally launch a NGN 1 billion (USD 6.3 million) microcredit facility for cooperatives of 10 to 20 automotive mechanics.
MICROCAPITAL BRIEF: Cambodian Microfinance Association (CMA) Announces Payment, Interest, Collateral Waivers by Microlenders to Support Flood Victims
Cambodia’s microfinance industry reportedly has announced measures to assist its borrowers that were affected by floods between September and November 2011.
MICROFINANCE PUBLICATION ROUND-UP: Competition, Loan Rates, and Information in Microcredit Markets; Eastern Europe and Central Asia Regional Snapshot; and Economic Strengthening of the Bottom Billion
“Competition, Loan Rates and Information Dispersion in Microcredit Markets” by G. Baquero, Malika Hamadi, and Andréas Heinen; published by the European School of Management and Technology; November 21, 2011; 58 pages; available at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2006485&
MICROCAPITAL BRIEF: Internal Documents Collected by Associated Press Implicate SKS Microfinance Staff in Borrower Suicides in Andhra Pradesh, India
Data collected by the Associated Press, a US-based news agency, reportedly implies that top officials of Indian microlender SKS Microfinance have had information implicating company employees in some of the approximately 200 suicides that were reported among poor and debt-ridden residents of the Andhra Pradesh region of India in late 2010.
MICROFINANCE PAPER WRAP-UP: “Bank Agents: Risk Management, Mitigation, and Supervision;” by Kate Lauer, Denise Dias, Michael Tarazi; Published by CGAP (Consultative Group to Assist the Poor)
By Kate Lauer, Denise Dias and Michael Tarazi; published by CGAP (Consultative Group to Assist the Poor); December 2011; 24 pages; available at: http://www.cgap.org/p/site/c/template.rc/1.9.55781/
MICROFINANCE PAPER WRAP-UP: Latest Findings from Randomized Evaluations of Microfinance; By Jonathan Bauchet, Cristobal Marshall, Laura Starita, Jeanette Thomas and Anna Yalouris; Published by CGAP
By Jonathan Bauchet, Cristobal Marshall, Laura Starita, Jeanette Thomas and Anna Yalouris; Published by CGAP (Consultative Group to Assist the Poor); December 2011; 32 pages; available at http://www.cgap.org/gm/document-1.9.55766/FORUM2.pdf
MICROCAPITAL BRIEF: Central Bank of Kenya to Allow Deposit-Taking Microfinance Institutions (DTMs) to Use Agents to Provide Financial Services
The Central Bank of Kenya (CBK), Kenya’s central banking authority, has reportedly issued guidelines allowing deposit-taking microfinance institutions (DTMs) to use agents to provide financial services in an effort to promote financial inclusion of the “unbanked and under-banked population” [1].
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Product Diversification, Over-indebtedness in Kosovo, Social Inclusion
“Making Microfinance Work: Managing Product Diversification” by Cheryl Frankiewicz, Craig Churchill; published by the International Labour Organization (ILO); December 2011; 612 pages; available for a fee at http://www.ilo.org/global/publications/ilo-bookstore/order-online/books/…
MICROFINANCE PAPER WRAP-UP: Poverty, Income Inequality, and Microfinance in Thailand; By Kelly Bird, Kelly Hattel, Eiichi Sasaki and Luxmon Attapich; Published by the Asian Development Bank
By Kelly Bird, Kelly Hattel, Eiichi Sasaki and Luxmon Attapich; Published by the Asian Development Bank; November 2011; 23 pages; available at http://beta.adb.org/sites/default/files/poverty-income-inequality-microfinance-thailand.pdf
MICROCAPITAL BRIEF: Center for Financial Inclusion Releases “Over-Indebtedness of Microborrowers in Ghana” by Jessica Schicks
The Center for Financial Inclusion (CFI), an affiliate of US-based nonprofit ACCION International, recently released a report on “Over-Indebtedness of Microborrowers in Ghana,” which explores the gap between providers’ and clients’ perceptions of indebtedness [1].
MICROCAPITAL BRIEF: Kate Waiganjo, MicroEnsure Country Manager in Kenya, Discusses Mandatory Loan Insurance for Microfinance Borrowers
In an article on the website of MicroEnsure, a subsidiary of US-based microfinance network Opportunity International, Kate Waiganjo, MicroEnsure’s Country Manager in Kenya, discusses the issue of mandatory loan insurance.