Event Name: Global Microfinance India Summit 2010
Event Date: November 15 to November 16, 2010
Event Location: New Delhi, India, Hotel Ashok
See Our Comprehensive Event Calendar Here: http://microfinanceassociation.ning.com/events
Search Results for: India
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: Finance Minister of India Asks Insurance Agencies to Provide Microinsurance in Rural Areas
Pranab Makherjee, Finance Minister of India, has asked insurance agencies to provide more microinsurance services to people living in rural areas. He made this request when speaking at an inaugural ceremony for the Insurance Institute of India, formerly known as The Federation of Insurance Institutes.
MICROCAPITAL BRIEF: Intellecap Releases Third Edition of “Inverting the Pyramid,” Its Annual Publication on Indian Microfinance Sector, Titled “Indian Microfinance – Coming of Age”
Intellecap, a social-sector advisory firm with offices in India and the US, has released the third edition “Inverting the Pyramid,” its annual publication about the Indian microfinance sector. The third edition, titled “Indian Microfinance – Coming of Age,” explores the reasons for the “buzz surrounding the sector” and a variety of other questions including: “is there a bubble growing in Indian microfinance?; are the social aims of microfinance losing out to commercial interests?; are Indian MFI valuations too high?” [1]
MICROCAPITAL BRIEF: Kerala and Andhra Pradesh, Two States in Southern India, Mandate Non-Banking Financial Companies (NBFCs) and Microfinance Institutions (MFIs) To Register Under Local Money Lending Laws; Mandate Challenged in Supreme Court
Kerala and Andhra Pradesh, two states in southern India, have mandated that non-banking financial companies (NBFCs) and microfinance institutions (MFIs) register under local moneylending laws, but The Shriram Transport Finance Company (STFC), an NFBC in India, has challenged this mandate in Supreme Court [1].
MICROCAPITAL BRIEF: Elevar and SVB make USD 8.6m Equity Investment In Indian Microfinance Institution Vistaar Livelihood Finance
Elevar Equity Advisors and SVB India Capital Partners have teamed to make an INR 400 million (USD 8.64 million) equity investment in Vistaar Livelihood Finance, an Indian microfinance institution catering to non-agricultural female entrepreneurs. While their stake in Vistaar was not disclosed, Brahmanand Hegde, CEO of Vistaar, stated that the two companies had bought a “substantial minority” in the company.
MICROCAPITAL BRIEF: Vastushodh Projects Private Limited Pairs with Micro Housing Finance Corporation (MHFC) to Set Up Housing for Urban Poor in India
Vastushodh Projects Private Limited, a real estate development company in India, is pairing up with The Micro Housing Finance Corporation (MHFC) to provide housing for the urban poor. MHFC has total funds of INR 22.5 million (USD 483,000) and total share capital INR 22 million (USD 473,000) as of March 2009 [1]. The organizations are setting up a micro township located in Yevat, a village in the Pune district of Maharashtra, located in southwestern India.
MICROCAPITAL BRIEF: Asian Development Bank (ADB) Provides $3m Grant to Small Industries Development Bank of India for Women Who Have Outgrown Microfinance, Are Caught in the “Missing Middle”
The Asian Development Bank (ADB), a regional development bank headquartered in Manila, the Philippines, which in 2007 approved USD 10.1 billion in loans [1], is providing a USD 3 million grant to the Small Industries Development Bank of India (SIDBI) to offer services to female entrepreneurs in India. The grant will target women who have “outgrown traditional microfinance support, but who are unable to access more conventional bank financing – the so called ‘missing middle’ group of the small enterprise sector” [3].
MICROCAPITAL BRIEF: World Bank Approves $200m Loan to Small Industries Development Bank of India (SIDBI) For Microfinance Institutions (MFIs) in India
The World Bank’s Board of Executive Directors has approved a loan of USD 200 million to be given to the Small Industries Development Bank of India (SIDBI) for lending to microfinance institutions (MFIs) in India.
MICROCAPITAL BRIEF: Fullerton India Credit Company (FICC) to Add Microfinance Services To Its Repertoire
Fullerton India Credit Company Limited (FICCL), a non-banking finance company (NBFC) in India [1], is adding microfinance services to its repertoire [2]. Its parent company, Angelica Investment Limited, is located in Singapore [2], yet the company chose India as its first market for microfinance because of the country’s large underserved population.
MICROCAPITAL BRIEF: responsAbility Global Microfinance Fund and responsAbility Microfinance Leaders Fund Disperse Total of $750k to Indian Microfinance Investment Vehicles Indian Financial Inclusion Fund and LOK Capital Fund
responsAbility Microfinance Leaders Fund and responsAbility Global Microfinance Fund have executed respective equity investments of USD 411,000 and USD 339,000 in MIVs that invest primarily in Indian microfinance institutions (MFIs) according to a report submitted to MicroCapital.
MICROCAPITAL BRIEF: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) Calls for Government-Owned Microfinance Institutions (MFIs)
The Associated Chambers of Commerce and Industry of India (ASSOCHAM), an organization representing approximately 100,000 Indian companies, plans to call attention to lacking rural microfinance service by asking the national government to operate microfinance institutions (MFIs) in those areas. ASSOCHAM reportedly argues that those MFIs currently serving rural India charge prohibitive annual interest rates of between 36 and 60 percent [1].
MICROCAPITAL BRIEF: SHARE Microfin Ltd of India Raises $11m Through Non-Convertible Debentures (NCD) with Assistance from Standard Chartered
SHARE Microfin Ltd, an Indian microfinance institution (MFI) with 2.4 million clients and a gross loan portfolio of USD 353 million, recently raised INR 500 million (USD 11 million) through a private placement of two-year, non-convertible debentures (NCD).
MICROCAPITAL BRIEF: Aavishkaar Goodwell India Microfinance Development Company Ltd Invests USD 450,000 in Belstar Investment and Finance Ltd
Aavishkaar Goodwell India Microfinance Development Company Ltd, an Indian-Dutch joint venture company that provides equity finance for microfinance institutions (MFIs), recently invested USD 450,000 in Belstar Investment and Finance Ltd, a non-bank finance company (NBFC) based in Bangalore, India.
MICROCAPITAL BRIEF: Experts Debate New Code of Conduct Adopted by the Microfinance India Network (MFIN)
A recent article featured on Livemint.com, an Indian business newspaper owned by the Wall Street Journal, discusses the debate surrounding the code of conduct recently adopted by the Microfinance India Network (MFIN), a trade association made up of 38 Indian non-banking finance companies (NBFCs) engaged in microfinance.
MICROCAPITAL BRIEF: International Finance Corporation (IFC) Provides $15m Equity Investment to Lok II, an $80m Microfinance Fund that will Invest in Microfinance Institutions (MFIs) in India
The International Finance Corporation (IFC), the investment arm of the World Bank, recently announced that it will provide an equity investment of USD 15 million in Lok II, a venture capital fund investing primarily in microfinance.
MICROCAPITAL BRIEF: Bandhan Financial Services Private Limited, Microfinance Institution (MFI) Based in Kolkata, India, Decreases Interest Rate on Loans from 24 Percent to 19.1 Percent on a Reducing Balance
Bandhan Financial Services Private Limited, a microfinance institution (MFI) based in Kolkata, India, has decreased its annual interest rate on loans from 24 percent to 19.1 percent on a reducing balance.
MICROCAPITAL BRIEF: Sequoia Capital Sells Stake in Manappuram General Finance and Leasing Ltd of India for $70m
Sequoia Capital, a venture capital firm that commits a portion of its portfolio to microfinance, recently sold its stake in Manappuram General Finance and Leasing Ltd, an India-based non-banking financial company (NBFC) that provides loans in exchange for gold, for USD 70 million.