Spandana Sphoorty Financial Limited, an Indian microfinance institution, recently announced that it had loaned a total of INR 151 billion (USD 3 billion) since its founding in 1998 through August 31, 2010.
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Report Recommends Withdrawal of Priority Sector Status from Microfinance Institutions (MFIs)
An unreleased report by a committee of the Reserve Bank of India (RBI) that was recently leaked to the Indian newspaper Economic Times recommended that RBI withdraw the priority sector status of microfinance institutions (MFIs), which allows MFIs borrow at lower interest rates.
MICROCAPITAL BRIEF: India’s Suryoday Microfinance Raises $4.5m from Lok Capital and Aavishkaar Goodwell
Suryoday Microfinance Private Limited, an Indian non-banking financial company (NBFC), recently announced the closing of its Series B equity financing for a total of INR 175 million (USD 3.8 million), provided by Lok Capital, a new investor in the company, and Suryoday’s existing investor Aavishkaar Goodwell, both of which are social investment/microfinance equity funds operating in India.
MICROCAPITAL BRIEF: Indian Microfinance Institutions (MFIs) Under Sa-Dhan to Lower Interest Rates by 2-3%
Officials from Sa-Dhan, an Indian microfinance industry association, announced that some of its 223 member microfinance institutions (MFIs) have agreed to lower interest rates by 2 percent to 3 percent.
MICROCAPITAL BRIEF: Corporation Bank of India and United India Insurance Company Limited Sign Memorandum of Understanding Regarding Marketing and Distribution of Microinsurance Products
Corporation Bank of India, a Karnataka-based, government-owned bank, and United India Insurance Company Limited (UIIC), a Chennai-based general insurance company, recently signed a memorandum of understanding to “create awareness and to market and distribute microinsurance products through business correspondents engaged by the bank.”
MICROCAPITAL BRIEF: Indian Microfinance Institutions Shifting to Monthly Loan Repayment Schedule
Indian microfinance institutions (MFIs) are offering loan products with monthly repayment plans as opposed to weekly payment terms, and according to a recent article more Indian microfinance institutions are considering offering products with monthly payment terms [1].
MICROCAPITAL BRIEF: Freedom from Hunger Publishes Results of Four-year, Bill & Melinda Gates Foundation-funded Grant Program to Bring Combination of Microfinance and Healthcare Options to Rural Poor in Benin, Bolivia, Burkina Faso, India and the Philippines
Freedom from Hunger, a California-based international development nonprofit, recently published the results of a four-year grant program enabling the organization and partner microfinance banks to add healthcare options to microfinance offerings for 1.5 million of the world’s rural poor in Benin, Bolivia, Burkina Faso, India and the Philippines.
MICROCAPITAL BRIEF: Consultant Sahil Sondhi Calls for Strategy Realignment for Indonesian Microfinance Sector
Sahil Sondhi, an associate consultant at Strategic Asia, a Jakarta based consultancy, wrote an article that appeared recently on the Jakarta Globe website calling for a new strategy in the Indonesian microfinance sector.
MICROCAPITAL BRIEF: India’s Bandhan Microfinance Institution Seeking $21m Investment from Private Investor
Bandhan, an Indian microfinance institution, recently announced it is seeking INR 1 billion (USD 21 million) in investment capital from private investors.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases Arabic Edition of 2009 Arab Microfinance Report
The Microfinance Information Exchange (MIX), a nonprofit organization providing financial and social performance information for microfinance institutions, in association with the Sanabel network of Arab microfinance institutions and CGAP (Consultative Group to Assist the Poor), an independent policy and research center housed at the World Bank Group, recently released the Arabic edition of its 2009 Arab Microfinance Analysis and Benchmarking Report.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases “Latin America and the Caribbean Benchmarks 2009”
The Microfinance Information Exchange (MIX), the microfinance information clearinghouse, recently released “Latin America and the Caribbean Benchmarks 2009” which compares performance indicators for microfinance institutions in Latin America and the Caribbean.
MICROFINANCE WRAP-UP: Microfinance Synergies and Trade-offs: Social versus Financial Performance Outcomes in 2008, by Adrian Gonzalez, Published by The Microfinance Information Exchange (MIX)
By Adrian Gonzalez, published by the Microfinance Information Exchange (MIX), August 2010, 15 pages, available at http://www.themix.org/sites/default/files/MIX%20Data%20Brief%207.pdf.
Adrian Gonzalez, a lead researcher for the Microfinance Information Exchange (MIX), conducted an econometric analysis to investigate whether there is a tradeoff between social performance (SP) and financial performance (FP) among microfinance institutions (MFIs) that reported data to MIX for the year 2008.
MICROCAPITAL BRIEF: Indian Microfinance Institution Grameen Koota Plans to Raise $21m
Grameen Koota, an Indian microfinance institution, is seeking to raise INR 1 billion (USD 21 million) and is reportedly planning to close a deal in the next several months.
MICROCAPITAL BRIEF: Dr V Renganatha of Vaatsalya Healthcare Solutions, India, Discusses Microinsurance Scheme, Pitfalls of Selling Insurance via Microfinance Institutions (MFIs) with Economic Times (ET)
In an interview with business newspaper, Economic Times (ET), co-founder and vice president of Vaatsalya Healthcare Solutions Dr V Renganathan discussed the microinsurance scheme for which he is seeking a grant. He asserts that the plan will offer low-income Indian consumers both hospital care as well as out-patient consultation.
MICROCAPITAL BRIEF: Sa-Dhan, a Microfinance Network in India, Launches Microfinance and Financial Inclusion Magazine “Micro Matters”
Sa-Dhan, a microfinance network in India with total member assets of INR 117 billion (the equivalent of USD 2.6 billion) as of March 2010, has launched a microfinance and financial inclusion magazine entitled “Micro Matters.”
MICROCAPITAL BRIEF: Indian Microfinance Institution Spandana Sphoorty’s Board Actively Evaluating an Initial Public Offering (IPO)
Spandana Sphoorty Financial Limited, an Indian microfinance institution, is evaluating an initial public share offering (IPO) following the recent launch of SKS Microfinance’s IPO, the first IPO by an Indian microfinance institution.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Provide $25m to Federal Bank, a Private Commercial Bank in India, to Support Small and Medium-sized Enterprises (SMEs)
The International Finance Corporation (IFC), a member of the World Bank Group, will provide financing of USD 25 million to Federal Bank, a private commercial bank in India, to improve support for small and medium-sized enterprises (SMEs) and to boost international trade opportunities. The deal will “facilitate transactions in challenging markets, promote competitive financing and build bank relationships with new institutions, thereby reducing risk and enabling more smaller businesses to engage in trade.”
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Releases French Edition of 2009 Arab Microfinance Report
The Microfinance Information Exchange (MIX) in partnership with Sanabel, a nonprofit organization dedicated to advancing Arab microfinance, and CGAP (Consultative Group to Assist the Poor), an independent policy and research center housed at the World Bank Group, recently released the French edition of its 2009 Arab Microfinance Analysis and Benchmarking Report.