Small Industries Development Bank of India (SIDBI), a governmental loan wholesaler to microfinance institutions (MFIs) in India, has reportedly required that SKS Microfinance Limited (SKS), an Indian MFI, use proceeds of a recent SIDBI loan for on-lending outside of the state of Andhra Pradesh [1].
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: SKS Microfinance Borrows $20m from Small Industries Development Bank of India (SIDBI), Focuses Efforts Outside Andhra Pradesh
SKS Microfinance Limited (SKS), an Indian microfinance institution (MFI), reportedly has obtained a loan of INR 1 billion (USD 20.1 million) from the government-backed Small Industries Development Bank of India (SIDBI), a loan wholesaler to MFIs in India.
MICROCAPITAL BRIEF: SKS Microfinance Founder Vikram Akula Says “Yunus Was Right” About Dangers of Private Investment to Microborrowers
Vikram Akula, the founder of Indian for-profit microfinance institution (MFI) SKS Microfinance Limited, reportedly acknowledged that Dr Muhammad Yunus was “right” about the challenges of “bringing private capital into social enterprise.”
MICROCAPITAL BRIEF: Bandhan Financial Services Sells $112m in Securitized Loans to Industrial Development Bank of India (IDBI), Axis Bank, Development Credit Bank
Bandhan Financial Services, an Indian microfinance institution (MFI), has sold INR 550 crore (USD 112 million) of its agricultural loan portfolio to the Industrial Development Bank of India (IDBI), a public – sector bank; Axis Bank, an Indian financial services company; and Development Credit Bank, an Indian private – sector bank, according to a statement attributed to Banhan managing director Chandra Shekhar Ghosh.
MICROCAPITAL BRIEF: UK’s CDC Group Invests $10m in Progression Eastern African Microfinance Equity Fund (PEAMEF)
The CDC Group, a development finance institution owned by the UK government’s Department for International Development, has announced that it has invested USD 10 million in the Progression Eastern African Microfinance Equity Fund (PEAMEF), which will support microfinance institutions in Kenya, Rwanda, Tanzania, Uganda and Zambia.
MICROCAPITAL BRIEF: SKS Microfinance Completes Securitization Deals Totaling $122m
SKS Microfinance Limited (SKS), a non-banking finance company (NBFC) regulated by the Reserve Bank of India (RBI), reportedly has raised INR 354 crore (USD 72 million) from an undisclosed public-sector bank and INR 243 crore (USD 49.6 million) from an undisclosed source.
MICROCAPITAL BRIEF: 76 Criminal Cases Pending Over Alleged Role of Microlenders in Borrower Suicides in India’s Andhra Pradesh
In India’s Andhra Pradesh state, the government is pushing ahead with 76 criminal cases against employees of Indian microlenders, accusing them of pushing poor debt-ridden residents to suicide.
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.
MICROCAPITAL BRIEF: Au Financiers to Establish Affordable Housing Finance Company in India
Au Financiers, a non-banking financial company in Rajasthan, India, reportedly will establish Au Housing Finance Private Limited (AHFPL), an Indian housing company, to “cater to the un-served and under-served markets, predominantly in the low income state of Rajasthan.”
MICROCAPITAL BRIEF: Indian Women’s Cooperative Vimo SEWA to Become Microinsurance Agent for L&T Insurance
Vimo SEWA, a woman’s insurance cooperative in India promoted by the nongovernmental organization Self Employed Women’s Association (SEWA), has partnered with L&T Insurance, an Indian insurance company, to become L&T’s first microinsurance agent.
MICROCAPITAL BRIEF: International Finance Corporation (IFC), ACCION Support Swadhaar in Expanding Microfinance for Women in Urban India
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, and ACCION International, a private, US-based nonprofit organization, will advise Swadhaar FinServe Private Limited (SFPL), an Indian microfinance institution, on its expansion of financial services for women in urban slums of the following Indian states: Gujarat, Madhya Pradesh, Maharashtra and Rajasthan.
MICROCAPITAL BRIEF: Indian Bank Credit to Microfinance Institutions Shrank 21.9% in First 9 Months of 2011
The amount of credit outstanding from Indian banks to the microfinance industry fell from April to December of 2011.
MICROCAPITAL BRIEF: Indian Finance Ministry Clears Draft Microfinance Bill, Considers Engaging Post Office Banks to Promote Financial Inclusion
India’s finance ministry reportedly has cleared the draft of a microfinance bill following its public circulation for comments in July 2011 [1].
MICROFINANCE PUBLICATION ROUND-UP: Role Reversal Revisited, Microinsurance Profitability Business Case, Trends in Cross-Border Funding
“Role Reversal Revisited,” by Damian von Stauffenberg and Daniel Rozas, published by MicroRate, 2011, 22 pages, available at http://microrate.com/wp-content/uploads/2012/01/Role-Reversal-Revisited-…
This paper reviews the roles of development finance institutions (DFIs) and private lenders in funding microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Microcredit Summit Campaign, Freedom from Hunger Partner on Effort to Bring Health Services to 3.7m, Program to be Piloted in India
The Microcredit Summit Campaign, a US-based advocacy organization, has partnered with Freedom from Hunger, a US-based development NGO, to launch a project intended to provide health insurance to approximately 3.7 million people worldwide.
MICROCAPITAL BRIEF: Grameen Foundation’s Bankers Without Borders Alliance Partners With Association of Ethiopian Microfinance Institutions On Financial Forecasting Tools, Management Information Systems
The Association of Ethiopian Microfinance Institutions (AEMFI), a nonprofit trade group, has become the sixth partner in the Bankers Without Borders (BwB) Alliance, a volunteer program started by the US-based Grameen Foundation.
MICROCAPITAL BRIEF: State Bank of India to Grow Microfinance Portfolio by 50%, Microfinance Institutions Network Promotes Wholesale Lending to Sector
The State Bank of India (SBI) reportedly plans to grow its microfinance portfolio by 50 percent during the fourth quarter of the fiscal year.
MICROCAPITAL BRIEF: IFC Advising FINO in Effort to Extend Financial Services to 100m Indians Over 3 Years
The International Finance Corporation (IFC), a member of the World Bank Group, has agreed to provide advisory support to Indian for-profit technology and services provider Financial Information Networks and Operation (FINO) in its goal to bring financial products such as microinsurance, remittance and deposit services to 100 million clients in India over the next three years.