The goal of Inclusive Finance India 2018 is to present a global perspective on topics such as “financial inclusion policy, regulation, supervision, technology advancements, client protection and institutional framework.” Although this year’s agenda is not yet available, last year’s event included sessions titled “Digital
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Sa-Dhan, Accion’s Smart Campaign, IFC Launching Tool to Monitor Over-indebtedness Among Microfinance Borrowers in India
Sa-Dhan, an association of 190 financial services providers in India, and the Smart Campaign of US-based NGO Accion recently announced the launch of an online monitoring tool intended to increase consumer protection and reduce over-indebtedness
MICROFINANCE EVENT: Microfinance & NBFCs Exhibition Cum Conference; October 11, 2018; Kolkata, India
The Fifth Microfinance & NBFCs Exhibition Cum Conference is intended to provide business development opportunities for microfinance institutions (MFIs) and non-banking financial companies (NBFC). The conference agenda includes case studies of NBFCs and MFIs; leadership awards; and panel discussions with titles such as: (1) Adoption and Affordability of Technologies: Challenges & Implications; (2) Safe & Secure Digital Customer Services; (3) and Collaboration & Partnerships: Key for Sustenance in the Changing Economy.
The confirmed list of
MICROFINANCE EVENT: Center for Financial Inclusion (CFI) Hosting “Getting Inclusion Right;” November 1, 2018; Washington, DC, USA
In recognition of its tenth anniversary, the US-based Center for Financial Inclusion will hold this event to consider how it and its partners will move forward in their work to promote the availability and usage of appropriate financial services. The agenda will include discussion of how increased access to financial services can lead to improved quality of life for customers and what sorts of risks customers need protection against
MICROCAPITAL BRIEF: CFI’s Africa Board Fellowship Accepting Applications from Microfinance Providers
The Center for Financial Inclusion (CFI), an affiliate of the US-based nonprofit Accion that promotes universal financial access, is seeking board members and CEOs of organizations that work toward financial inclusion in sub-Saharan Africa to enroll in its Africa Board Fellowship (ABF).
MICROCAPITAL BRIEF: Triple Jump, MicroVest Lend $10m to Indian Microfinance Institution Aye Finance
Aye Finance, a non-banking financial company-microfinance institution (NBFC-MFI) in India, recently issued USD 10 million in non-convertible debentures in undisclosed portions to two microfinance fund management firms, Netherlands-based Triple Jump BV and US-based MicroVest Funds. Aye intends to use the proceeds to expand its small and medium-sized enterprise (SME) loan portfolio.
MICROFINANCE EVENT: Sa-Dhan National Conference: “Propelling the Growth of the Informal Sector through Microfinance;” September 19-20, 2018; New Delhi, India
The aim of this event is to continue discussions on how to realize the goals of Pradhaan Mantri Jan Dhan Yojana, India’s national financial inclusion program. This year’s gathering will focus on how microfinance institutions (MFIs) can use technology to expand their outreach to more low-income customers.
MICROCAPITAL BRIEF: Microfinance Institution Janalakshmi of India Converts to Jana Small Finance Bank
Jana Small Finance Bank (SFB), the successor to Indian microlender Janalakshmi Financial Services, recently announced the launch of its operations. Jana obtained its SFB license from the Reserve Bank of India (RBI) in April 2017, but the launch was delayed by losses attributed to India’s 2016 demonetization.
MICROCAPITAL BRIEF: Microfinance Institutions Network (MFIN) Reports Increasing Delinquency in India; L&T Finance, Bharat, Utkarsh Rejecting Up to 30% of Loan Applications Due to Multiple Borrowing
The Microfinance Institutions Network (MFIN), a self-regulating body representing 48 microfinance institutions (MFIs) in India, reports that 2.83 percent of non-group microloans in the country have at least one payment overdue by more than 180 days as of March 2018,
MICROCAPITAL BRIEF: Oman India Joint Investment Fund (OIJIF) Buys $23m Equity Stake in India’s Annapurna Microfinance
The Oman India Joint Investment Fund (OIJIF), a private equity investor associated with the governments of India and Oman, recently placed an equity investment of INR 1.6 billion (USD 23 million) in Annapurna Microfinance Private Limited, a non-deposit-taking microfinance institution (MFI)
MICROCAPITAL BRIEF: India’s RBL Bank Completes Ownership of Microfinance Institution (MFI) Swadhaar Finserve with Equity Purchases from Accion, Individual Investors
RBL Bank Limited, an Indian commercial bank formerly known as Ratnakar Bank Limited (RBL), recently bought out the other owners of Swadhaar Finserve Private Limited (SFPL), a microfinance institution (MFI) providing loan, deposit and insurance services to low-income households as well as micro-, small
MICROCAPITAL BRIEF: OPIC Loans $100m to IndusInd Bank for Microfinance Lending to Women in India
The Overseas Private Investment Corporation (OPIC), an agency of the US government that seeks to facilitate investment by US-based firms in developing countries, recently issued an eight-year loan in the amount of USD 100 million to India’s IndusInd Bank to increase its microenterprise lending
MICROCAPITAL BRIEF: Nordic Microfinance Initiative (NMI) Raises $105m from DNB, Ferd, IFU, KLP, Norfund for Fund IV for MFIs in Africa, Asia
The Nordic Microfinance Initiative (NMI), a Norway-based public-private partnership that supports microfinance institutions (MFIs) in developing countries, recently debuted its fourth fund with a total of USD 105 million in commitments from the following organizations: Norway’s Den Norske Bank;
MICROCAPITAL BRIEF: Accion Venture Lab, YourNest Invest $1.3m for Equity Stakes in Digital Lender CredRight of India
CredRight, an online lender to individuals as well as micro-, small and medium-sized enterprises (MSMEs) in India, recently received equity investments totaling INR 90 million (USD 1.3 million) from Accion Venture Labs, a fund of US-based NGO Accion, and YourNest, a venture capital firm
MICROCAPITAL BRIEF: Toffee Insurance of India Secures $1.5m in Equity for Digital Microinsurance from Kalaari Capital, Omidyar Network, Accion Venture Lab
Toffee Insurance, an online microinsurance firm based in India, recently received a total of USD 1.5 million in equity from Accion Venture Labs, a fund of US-based NGO Accion; Kalaari Capital, an Indian for-profit investment firm; and Omidyar Network, a US-based NGO. Toffee will use the
MICROCAPITAL BRIEF: Asian Development Bank (ADB) to Guarantee $20m in Local-currency Lending by Malaysia’s Maybank to Microfinance Institutions (MFIs) in Myanmar
The Philippines-based Asian Development Bank (ADB) recently agreed to guarantee USD 20 million in local-currency lending by Maybank, a Malaysia-based bank, to microfinance institutions (MFIs) in Myanmar. The deal is part of ADB’s Microfinance Risk Participation and Guarantee Program, which has supported local-currency loans valued at a total of USD 670
MICROCAPITAL BRIEF: Goodwell Investments Buys Equity Stake in Microfinance Software Provider Musoni
Goodwell Investments, a firm with offices in the Netherlands and South Africa that invests in companies serving people with low incomes, recently placed its second equity investment in Musoni Services, a holding of Musoni Investments that offers software for managing microfinance institutions. The sizes of the investment and the stake being taken by Goodwell remain confidential. Musoni Services plans to use the liquidity to
MICROCAPITAL BRIEF: India’s Odisha State Encouraging Banks, Microfinance Institutions to Open 656 “Banking Outlets” in Unserved Rural Areas
By March 2019, the eastern Indian state of Odisha is encouraging financial institutions to open “banking outlets” in 656 gram panchayats (villages) that are at least