Skoch Consultancy Services Private Limited, a strategic planning and management consulting firm based in India, has presented Indian Bank, a bank owned by the government of India, with the Skoch Financial Inclusion Award 2011 for its work serving self-help groups (SHGs) in urban areas.
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Subcommittee Proposes Regulation for Microfinance Institutions (MFI)
A committee headed by Y H Malegam, central board director of the Reserve Bank of India (RBI), India’s central banking authority, met last week and proposed that microfinance institutions (MFIs) should be allowed to charge a maximum interest rate of 24 percent to borrowers and that loans to a single microborrower should not exceed INR 25,000 (USD 548).
MICROCAPITAL BRIEF: India’s National Bank for Agriculture and Rural Development (NABARD) Looking to Invest in Venture Capital Funds
The National Bank for Agriculture and Rural Development (NABARD) of India, which regulates and promotes microfinance activities in rural areas, recently announced that it is interested in investing in venture capital funds.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Proposes $10m Investment in Shree Mahila Self Employed Women’s Association (SEWA) Bank of Gujarat, India, for Microfinance
The International Finance Corporation (IFC), the investment arm of the World Bank Group, a multilateral development finance organization based in Washington DC, has submitted a proposal to its board of directors for an investment of up to USD 10 million in Shree Mahila Self Employed Women’s Association (SEWA) Bank, subject to regulatory approval by the Reserve Bank of India (RBI).
MICROCAPITAL BRIEF: Indian Banks Agree to Reschedule Loans to Microfinance Institutions (MFIs) Contingent on Their Rescheduling Loans to End-borrowers
Indian banks that have disbursed loans to microfinance institutions (MFIs) may have reached an agreement with the MFIs regarding their requests to reschedule their loan payments.
MICROCAPITAL BRIEF: Commercial Banks in Kenya Lower Loan Sizes to Compete with Microfinance Sector
Commercial and retail banks in Kenya, recognizing the increase in demand for microloans in the country, have lowered their loan minimums to compete against moneylenders and microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Founder of Grameen Bank and Nobel Peace Prize Winner Dr Muhammad Yunus Speaks Out Against the Commercialization of Microfinance Institutions (MFIs)
Dr Muhammad Yunus, founder of Grameen Bank and winner of the Nobel Peace Prize for his work in microcredit, has again spoken out against the commercialization of microfinance institutions (MFIs) and their deviation from the mission of poverty alleviation.
MICROCAPITAL BRIEF: Microfinance Institutions (MFIs) in India Take Legal Action Against Yes Bank for Loan Recall
Several microfinance institutions (MFIs) in India announced that they will be taking legal action against Yes Bank, a private-sector bank headquartered in Mumbai, for recalling loans totaling several billion rupees (the equivalent of tens of millions of US dollars).
MICROCAPITAL BRIEF: Rating Agency Crisil Downgrades Five Indian Microfinance Institutions (MFIs)
Crisil, a credit rating agency based in Bangalore, India, has downgraded its rating of five Indian microfinance institutions (MFIs), citing low debt collections in Andhra Pradesh.
MICROCAPITAL BRIEF: Grameen Foundation Releases Updated Microfinance Management Information Software (MIS) Mifos 2.0
The Grameen Foundation, a nonprofit based in Washington, DC, that aims to help microfinance institutions (MFIs) replicate the microfinance model of Grameen Bank, has announced the release of Mifos 2.0, the latest version of its management information software (MIS) for microfinance.
MICROCAPITAL BRIEF: Yes Bank of India Recalls Approximately $22m in Loans Advanced to Microfinance Institutions (MFIs)
Yes Bank Limited, a private bank based in Mumbai, India, has reportedly recalled approximately INR 1 billion (USD 22.2 million) in loans it advanced to microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Standard Chartered, MicroSave Launch Microfinance Risk Management Toolkit
The Bangladesh branch of Standard Chartered PLC, an international bank headquartered in the United Kingdom that reported total assets of USD 436 billion in 2009, and MicroSave, a company based in India that specializes in technical assistance and training for microfinance organizations, have jointly launched a risk management toolkit for microfinance institutions (MFIs).
MICROFINANCE BRIEF: State Bank of India (SBI) Considers Restructuring Loans to “Non-Performing” Microfinance Institutions (MFIs)
The State Bank of India (SBI), a state-owned financial services company, has announced that it may restructure loans given to microfinance institutions (MFIs) that enter “non-performing” status.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Funded by MasterCard Foundation to Expand Data Coverage Among Microfinance Organizations (MFIs) in Africa
The Microfinance Information Exchange (MIX), the microfinance data clearinghouse, has received a USD 2 million grant from the MasterCard Foundation, a private Canadian foundation that seeks to alleviate poverty through microfinance and education, to improve information sharing among microfinance institutions (MFIs) in Africa and the visibility of those organizations outside the region.
MICROCAPITAL BRIEF: Local Government in Indian State of Andhra Pradesh Considers Additional Microfinance Regulation, Requires Disclosure of Operational Procedures
The government of the Indian state of Andhra Pradesh, where the microfinance industry has been described as experiencing a crisis, is reportedly considering new legislation to refine an ordinance that was passed in October 2010 in response to a series of suicides said to be linked to debt collector harassment.
MICROCAPITAL BRIEF: Asian Development Bank Invests in Microfinance through $10m Equity Placement in Shorecap II Fund
The Asian Development Bank (ADB), an international development organization based in Manila, Philippines, announced that it will be making an equity investment of up to USD 10 million in Shorecap II Fund (SCII), the successor to Shorecap International (SCI), a microfinance investment vehicle (MIV) established in 2003.
MICROCAPITAL BRIEF: 350 Microfinance Institutions (MFIs) Report to Microfinance Information Exchange (MIX) Social Performance Reporting Awards
The Microfinance Information Exchange (MIX), the microfinance data clearinghouse, recently argued that microfinance institutions (MFIs) around the world have increased their commitment to transparency in social performance based on a surge in applications to the MIX’s 2010 Social Performance Reporting Awards, which acknowledge openness in reporting.
MICROCAPITAL BRIEF: Muthoot Fincorp, ACCION International Join to Increase Microfinance Lending in India
Muthoot Fincorp, a finance company serving retail and institutional customers in India, and ACCION International, a US-based nonprofit with affiliated microfinance institutions (MFIs) in 23 countries, have joined together in an effort to increase lending in India’s microfinance sector.