According to the website of the Hindustantimes Newspaper, the Reserve Bank of India (RBI), the central bank of India, is preparing a report making recommendations on regulating the Indian microfinance industry, which has recently come under intense scrutiny.
Search Results for: India
MICROCAPITAL BRIEF: Former CEO of Jammu and Kashmir Bank Calls Efforts to Regulate Indian Microfinance Institutions (MFIs) “Flawed”, Argues NABARD Has Conflicts of Interest
Haseeb Drabu, former CEO of Jammu and Kashmir Bank, a bank owned by the Indian state governments of Jammu and Kashmir, recently wrote an article published on the LiveMint website calling recent efforts by authorities to rein in the Indian microfinance industry “flawed”.
MICROCAPITAL BRIEF: CEO of Indian Microfinance Institution BASIX Denies Charging Interest Rates of More than 24%
Sajeev Viswanathan, CEO of Indian group BASIX, which provides microfinance services through its microfinance institution (MFI) Bhartiya Samruddhi Finance Limited (BSFL), was recently interviewed by CNBC India, at which time he denied that BSFL charges interest rates as high as 60 percent on microloans.
MICROCAPITAL BRIEF: Experts Warn that New Legislation in Andhra Pradesh Might Reduce Profitability of Indian Microfinance Institutions (MFIs)
On the website of the LiveMint newspaper, a number of experts in India recently cautioned that legislations currently proposed in Andhra Pradesh, India, might cause a sharp drop in profitability of microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Bhartiya Samruddhi Finance Limited (BSFL) Plans to Sell $56.3m Stake to Private Equity Consortium
Bhartiya Samruddhi Finance Limited (BSFL), a microfinance institution (MFI) that is part of the BASIX group, reportedly plans to sell an INR 2.5 billion (the equivalent of USD 56.3 million) stake to a group of undisclosed private equity firms.
MICROCAPITAL BRIEF: MicroVentures Lends $680,000 to Indian Microfinance Institution (MFI) Swadhaar Finserve
MicroVentures India, a private equity fund that invests in microfinance institutions (MFIs), recently loaned INR 30 million (approximately USD 680,000) to Indian MFI Swadhaar Finserve.
MICROCAPITAL BRIEF: Institute for Financial Management and Research (IFMR) of India Rolls Out Interactive Map for Subsidiary Microfinance Institution Kshetriya Gramin Financial Services
The Institute for Financial Management and Research (IFMR), a nonprofit organization based in India, recently announced that it is planning to roll out an interactive map service offering information to the public on its subsidiary microfinance institution (MFI), Kshetriya Gramin Financial Services (KGFS).
MICROCAPITAL EVENT: Fourth International Conference on Microfinance Sponsored By Pondicherry University, Pondicherry, India, January 27-29, 2011
Event Name: International Conference on Microfinance
Event Date: January 27 – January 29, 2011
Event Location: Pondicherry, India
MICROCAPITAL BRIEF: United Kingdom’s CDC Group Invests $10m in Lok Capital II, Private Equity Fund Focused on Microfinance in India
CDC Group, the UK’s government-owned development finance institution, recently invested USD 10 million in Lok Capital II, a private equity fund managed by Lok Capital, partner organization of the non profit Lok Foundation based in New York City, USA.
MICROCAPITAL BRIEF: Indian Microfinance Institutions (MFIs) in Andhra Pradesh Offer Debt Restructuring
Microfinance institutions (MFIs) in Andhra Pradesh, India, are offering many of their estimated 6.7 million borrowers the option of restructuring their outstanding loans in an effort to defuse recent popular and political hostility towards microfinance in the area.
MICROCAPITAL BRIEF: Indian Banks Amend Loan Requirements in Bid to Lower Microfinance Institution Lending Rate to 24%
Several large Indian banks have joined forces to modify requirements on loans made to microfinance institutions (MFIs) in an effort to bring change to the lending practices of MFIs.
MICROCAPITAL BRIEF: Indian Government Ponders Role of NABARD in New Microfinance Regulatory Framework
The Indian government is considering giving the National Bank for Agriculture and Rural Development (NABARD), a development bank that formulates the credit and banking policy for the rural sector, more supervisory powers over microfinance institutions (MFIs) in India.
MICROCAPITAL BRIEF: India’s SKS Microfinance Q2 2010 Profits Jump by 116%
On October 24th, SKS Microfinance, a publicly-traded microfinance institution (MFI) based in India, announced the release of its financial report for the second quarter (Q2) of 2010 ending September 30th.
MICROCAPITAL EVENT: National Bank for Agriculture and Rural Development (NABARD) and Siddaganga Institute of Technology Host National Seminar on Microfinance and Sustainable Livelihood Promotions in India, Karnataka, India, December 15–16, 2010
Event Name: National Seminar on Microfinance and Sustainable Livelihood Promotions in India
Event Date: December 15 – December 16, 2010
Event Location: Karnataka, India
MICROCAPITAL BRIEF: Indian Microfinance Institutions (MFIs) Consider Legal Action Against New Regulations in Andhra Pradesh
Indian microfinance institutions (MFIs) are considering using legal action to attempt to block regulations of MFIs proposed by the government of Andhra Pradesh.
MICROCAPITAL BRIEF: Indian Government Finalizes Debt-Swap Scheme, Ordinance to Counter Coercive Practices of Microfinance Institutions (MFIs)
The Cabinet of the Indian government has hammered out a debt-swap scheme to relieve self-help groups troubled by high interest rates charged on microloans and has approved a draft of an ordinance intended to end coercive collections practices by microfinance institutions (MFIs) in India.
MICROCAPITAL BRIEF: Indian Microfinance Institution Equitas Securitizes $22m in Loans, Arranged by IFMR Capital, Subscribed to by IFMR Capital, UTI Mutual Fund, HDFC Bank and Reliance Capital
Microfinance institution (MFI) Equitas Microfinance India Private Limited has announced that it has securitized loans totaling INR 1 billion (USD 22 million).
MICROCAPITAL BRIEF: Swaminathan Aiyar Defends Interest Rates Charged by Microfinance Institutions (MFIs) in India, Suggests Dividend Cap Over Rate Cap
A column recently published on the website of the Economic Times newspaper argues that interest rates charged by microfinance institutions (MFIs) in India should not be capped by the government.