In its July 2010 newsletter, the Indian microfinance institution (MFI) Sanchetna Financial Services reported that it will be receiving a loan of INR 10 million (USD 211,000) from Maanaveeya Holdings and Investments, the Indian subsidiary of the Dutch cooperative investment fund Oikocredit. In addition, Sanchetna will receive INR 3 million (USD 64,000) from the microfinance investment vehicle (MIV), Ananya Finance for Inclusive Growth, and INR 2 million (USD 43,000) from the nonprofit trust, Trust MicroFin Network (TMN).
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Nokia Launches Microfinance Scheme to Sell Mobile Phones to Poor People in Rural India
Nokia, a Finnish telecommunications company, is partnering with microfinance institutions (MFIs) to allow rural residents in the Indian states of Punjab and Haryana to use microloans to buy mobile phones. The company has already formed partnerships with several microfinance MFIs in the area, including SKS Microfinance, which is based in Hyderabad; Ujjivan, which maintains offices in Bangalore, Delhi, Kolkata and Pune; and Madura Microfinance, headquartered in Adyar. The payment scheme for the use each mobile phone will be as low as INR 100 (USD 2.14) per week.
MICROCAPITAL BRIEF: Microfinance Information Exchange Releases “Is Microfinance Growing Too Fast?” by Adrian Gonzalez Indicating Portfolio Quality Negatively Correlated with Increasing Number of Borrowers
The Microfinance Information Exchange (MIX) has released a paper by researcher Adrian Gonzalez entitled “Is Microfinance Growing Too Fast?”
MICROCAPITAL BRIEF: Mimoza Enterprises Finance (Mimo) Receives $1.5m Loan from Unitus Incorporated, US Overseas Private Investment Corporation (OPIC) and Citi Microfinance
Mimoza Enterprises Finance (Mimo), an Indian microfinance institution (MFI) with a gross loan portfolio of USD 5.1 million, has received a loan of USD 1.5 million from Unitus Incorporated, an international nonprofit organization that provides funding and consulting services to microfinance institutions.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and Global Impact Investing Network (GIIN) to Share Data With $187,000 Grant From Rockefeller Foundation
The Rockefeller Foundation, a US-based grantmaking organization, has awarded a USD 187,000 grant to two other US-based nonprofits, Microfinance Information Exchange (MIX) and the Global Impact Investing Network (GIIN), to “increase transparency and comparability across microfinance and the broader impact investing industry.” The grant will be used to develop a data feed that will allow GIIN’s Impact Reporting and Investment Standards (IRIS) project, which was created to develop a common framework for defining, tracking and reporting the performance of “impact capital,” to access data from MIX.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) and Sanabel Grant Certificates of Transparency to 43 Arab Microfinance Institutions
The nonprofit Microfinance Information Exchange (MIX) and Sanabel, a nonprofit organization dedicated to advancing Arabic microfinance, recently awarded certificates of transparency to 43 microfinance institutions from Arab countries.
MICROCAPITAL BRIEF: Microloan Default Risk Rises in India as SKS Microfinance Plans Initial Public Offering (IPO)
A trend in initial public offerings (IPOs) by microfinance institutions in India could potentially increase the risk of defaults by microborrowers. SKS Microfinance, an Indian microfinance institution, has recently filed to raise up to USD 250 million in an initial public offering (IPO), as initially reported by MicroCapital on March 9, 2010. This pending IPO is causing concern that an IPO trend in India could trigger a trend in microfinance institutions’ (MFIs’) funding sources, as reported by MicroCapital on June 16, 2010, which could raise the risk of loan defaults by pressuring MFIs to disburse riskier microloans.
MICROCAPITAL BRIEF: Microfinance Information Exchange (MIX) Calls for “Test Pilots” to Assess New Features of MIX Market Website, May Begin Charging for Premium Content
The Microfinance Information Exchange (MIX) has announced the launch of new services on its MIX Market website starting in July 2010, including mid-year data for select microfinance institutions (MFIs) and more comprehensive and up-to-date country profiles. According to MIX Market, eventually these services may only be available to paying subscribers, but the date of any such change is not specified.
MICROCAPITAL BRIEF: Oikocredit Lends $3.14m in Local-currency to Nine Indian Microfinance Institutions
Oikocredit, a microfinance investment fund in the Netherlands with assets of USD 665 million, recently loaned INR 145 million (USD 3.14 million) to nine Indian microfinance institutions (MFIs).
MICROCAPITAL BRIEF: MIX Market Releases 2008-2009 Microfinance Trend Report on Russia, Revealing Financial Crisis Highest in 2009
The MIX Market has released an analysis of Russian microfinance data entitled “Russia Microfinance Trend Report 2008-2009,” which states that the peak of the crisis in the Russian microfinance sector occurred at the end of 2008 and in early 2009.
MICROCAPITAL BRIEF: Second Annual Unitus-Hewitt Compensation And Benefits Survey of Indian Microfinance Institutions Demonstrates Salary Stability
The Unitus-Hewitt Compensation And Benefits Survey, released in early June, has demonstrated stability in the microfinance industry during the 2009 economic crisis. The study examined cash and non-cash benefits at 15 microfinance institutions (MFIs) representing 10 million clients across India. The study was jointly executed by Unitus Inc., an international nonprofit providing funding and consulting services to MFIs, and Hewitt Associates, an international human resources consulting firm.
MICROCAPITAL BRIEF: National Bank for Agriculture and Rural Development (NABARD) Plans to Open Rural Credit Bureaus in India
The National Bank for Agriculture and Rural Development (NABARD), a development bank in India that promotes sustainable agriculture and rural development through credit support, institution building and other related services, plans to set up rural credit bureaus in rural districts throughout the country. According to Dr K.G. Karmakar, the managing director of NABARD, “Once implemented, [the credit bureaus] will go a long way in improving the financial position of India’s 480 million marginal farmers.” The proposed bureaus would maintain information on all rural borrowers in order to facilitate credit and information disbursement.
MICROCAPITAL BRIEF: Microfinance Opportunities (MFO) and The MasterCard Foundation Announce Partnership with Financial Information Networks and Operation (FINO) of India and The Rural Bankers Association of the Philippines (RBAP) for Branchless Banking Program
The MasterCard Foundation, a private foundation with approximately CAD 3 billion (the equivalent of USD 2.9 billion) in assets, and Microfinance Opportunities (MFO), a microenterprise resource center established in 2002, have selected two companies in Asia to participate in their Financial Education for Branchless Banking Program.
MICROCAPITAL BRIEF: International Finance Corporation to Acquire 20% Stake in India-Based Microfinance Institution Swadhaar FinServe (SPFL)
The International Finance Corporation (IFC), a member of the World Bank Group, recently announced plans to acquire a 20 percent stake in Swadhaar FinServe (SPFL), a non banking financial company that caters to India’s urban poor, for USD 2.25 million.
MICROCAPITAL BRIEF: World Bank Approves $300m Loan to Small Industries Development Bank of India (SIDBI) and $107m to Indian Government to Improve Statistics
The World Bank has approved a USD 300 million loan from the Scaling Up Sustainable and Responsible Microfinance Project to the Small Industries Development Bank of India (SIDBI) and a USD 107 million loan from the Statistical Strengthening Loan Program to the national government of India [1].
MICROCAPITAL BRIEF: KfW Entwicklungsbank (KfW) and Norwegian Microfinance Initiative (NMI) Commit Total of $11.6m to Goodwell West Africa to be Invested in Microfinance Sector in Ghana and Nigeria
Goodwell West Africa, a branch of Goodwell Investments, a business development company based in the Netherlands, has received commitments of EUR 8 million (USD 9.7 million) from KfW Entwicklungsbank (KfW), a German development bank, and EUR 1.6 million (USD 1.9 million) from Norwegian Microfinance Initiative (NMI), a strategic partnership between the Norwegian public and private sectors that invests in and provides support for microfinance institutions (MFIs) in developing countries. The funds will be invested in established MFIs as well as emerging MFIs in Ghana and Nigeria.
MICROCAPITAL BRIEF: The European Investment Bank, The International Finance Corporation (IFC), KfW Entwicklungsbank, The Belgian Investment Company for Developing Countries (BIO), The Netherlands Development Finance Company (FMO) and Incofin Investment Management Launch Rural Impulse II, a Rural Microfinance Fund
The European Investment Bank, the International Finance Corporation (IFC), KfW Entwicklungsbank, the Belgian Investment Company for Developing Countries (BIO) and the Netherlands Development Finance Company (FMO) have joined together to launch Rural Impulse II, a rural microfinance fund and successor to Rural Impulse Fund I. Several unnamed private banks and investors will also participate. The fund is an initiative of Incofin Investment Management, which has USD 36.2 million in under management and will act as fund advisor. The goal of the fund is to improve access to finance for poor rural communities around the world.
MICROFINANCE EVENT: MicroSave and Financial Access Initiative (FAI) to Hold Two Day Virtual Conference “Reimagining Microfinance Around the World: Implementing Lessons from ‘Portfolio of the Poor'” June 8-9, 2010
Event Name: Reimagining Microfinance Around the World: Implementing Lessons from ‘Portfolios of the Poor’
Event Date: June 8 to June 9, 2010
Event Location: Online
Event Website: http://www.microsave.org/static/content/VC-on-portfolios-of-the-poor
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events