US-based Route One Fund I LP recently spent approximately INR 990 million (USD 15.4 million) to purchase 0.88 percent of the shares of Bharat Financial Inclusion, a for-profit non-banking microfinance institution (MFI) in India, via an open market transaction.
Search Results for: "SKS Microfinance"
MICROCAPITAL BRIEF: Interest Rate Cuts by Reserve Bank of India Trickle Down to Microfinance Loans
Successive interest rate cuts by the Reserve Bank of India (RBI) since 2015 have led to decreasing cost of funds for microfinance institutions (MFI) and a reduction in lending rates to end customers.
MICROCAPITAL BRIEF: Indian Microfinance Lender Equitas Holdings Goes Public, Raising $330m
Equitas Holdings Limited, an Indian microfinance lender, recently opened its primary market sale.
MICROCAPITAL BRIEF: Mutual Funds in India Invest $157m in Secured Debentures of Microfinance Institutions (MFIs) Equitas, Janalakshmi, SKS, Ujjivan
Several mutual funds based in India, including Industrial Credit and Investment Corporation of India (ICICI) Prudential Mutual Fund, Housing Development Finance Corporation (HDFC) Mutual Fund, Kotak Mutual Fund, Reliance Mutual Fund and State Bank of India (SBI) Mutual Fund, recently invested in secured debentures issued by several Indian microfinance institutions (MFIs).
MICROCAPITAL BRIEF: Standard Chartered Bank Loans $14m to Indian Microfinance Institution (MFI) SKS
The Indian unit of UK-based Standard Chartered Bank (SCB) recently notified MicroCapital that it has disbursed a loan of INR 900 million (USD 14 million) to SKS Microfinance, a for-profit Indian microfinance institution (MFI).
MICROCAPITAL BRIEF: Vikram Akula Buys 26% Stake in India’s Vaya Finserv
Vikram Akula, the founder and former chairman of Indian group-lender SKS Microfinance, recently bought 26-percent stake in the start-up Vaya Finserv. Launched in 2014, Vaya Finserv has plans to acquire a “small finance bank” license, which will it will use to provide credit to individuals in India who have been rejected by traditional banks, primarily women’s self-help groups.
MICROCAPITAL BRIEF: WestBridge Capital Invests $16m to Acquire 20% Equity Stake in India’s Aptus Value Housing Finance
WestBridge Capital, an investment company with offices in India, Mauritius and the United States, recently invested a total of INR 98 crore (USD 16 million) to acquire 20 percent of the shares of Aptus Value Housing Finance, an India-based company that seeks to provide affordable housing finance, primarily for middle-income, self-employed customers [1].
MICROCAPITAL BRIEF: Morgan Stanley Offers Balanced, Equity “Investing with Impact” Portfolios
Morgan Stanley, a US-based international financial services corporation, recently created two “Investing with Impact” portfolios as part of its goal to draw USD 10 billion in client assets towards “sustainable” investing products.
MICROCAPITAL BRIEF: Bandhan Financial Services of India Plans Public Offering (IPO) Within Three Years
Bandhan Financial Services, an Indian microfinance institution that recently received a provisional banking license from the Reserve Bank of India (RBI), reportedly is planning to raise capital through an initial public offering (IPO) sometime within the next three years.
MICROCAPITAL BRIEF: Elevar Equity, Omidyar Network, Saama Capital, WestBridge Capital Invest $27m in Equity in India’s Vistaar Finance for Lending to Micro-, Small, Medium-sized Enterprises (MSMEs)
Elevar Equity, which invests in “disconnected communities” from offices in India and the US; Omidyar Network, a US-based investor in “socially responsible” organizations; Saama Capital, an India-focused venture capital fund registered in Mauritius; and WestBridge Capital, an India-based investment company with offices in India, Mauritius and the United States, reportedly have collectively invested INR 1.6 billion (USD 27 million) in Bangalore-based non-banking finance company Vistaar Finance (Vistaar).
MICROCAPITAL BRIEF: Commercial Banks in India Seek to Expand Microlending: Housing Development Finance Corporation, IndusInd Bank, Industrial Development Bank of India (IDBI)
Commercial banks in India reportedly are gaining interest in offering microfinance services to low-income individuals.
MICROCAPITAL BRIEF: Plays, Postcards Help Indian Microinsurers to Increase Renewals
Microinsurance providers in India have recently implemented strategies such as street plays and handwritten postcards in local languages to increase policy renewals.
MICROFINANCE PAPER WRAP-UP: “2012 MicroMeter;” published by India’s Microfinance Institutions Network (MFIN)
Published by the Microfinance Institutions Network (MFIN); 2013; 40 pages; available at: http://www.microfinancegateway.org/gm/document-1.9.60963/MicroMeter_Feb%202013_Issue%2004_5th%20Feb%202013_for%20distribution.pdf
The Microfinance Institutions Network (MFIN), an association of 47 Indian microlenders, has released the fourth issue of MicroMeter, an analysis of the Indian microfinance industry’s performance during the third quarter (Q3) of fiscal year (FY) 2012-2013 (spanning October to December 2012).
MICROCAPITAL BRIEF: Nepal Rastra Bank, Rural Microfinance Development Center, Center for Microfinance Nepal Urge Microlenders to Lower Interest Rates, Focus on “Deprived” Sectors
Representatives of the Nepal Rastra Bank (NRB), the country’s central bank; the Rural Microfinance Development Center (RMDC), an organization owned by Nepalese lenders that provides wholesale loans to microfinance institutions (MFIs); and the Center for Microfinance (CMF) Nepal, a nonprofit network dedicated to promoting the country’s microfinance industry, reportedly have urged MFIs to lower microloan interest rates, claiming that a desire for greater profits is hindering financial inclusion.
MICROCAPITAL BRIEF: Microlenders Affiliated with India’s Microfinance Institutions Network Boost Loan Disbursals by 22%, Gross Loan Portfolio by 9.2% from Previous Quarter
According to the Microfinance Institutions Network (MFIN), an association of Indian microfinance institutions (MFIs), 41 of its 47 member MFIs disbursed loans totaling INR 61.9 billion (USD 1.1 billion) in the October-December quarter of 2012, an increase of approximately 22 percent from the INR 50.9 billion (USD 926 million) during the previous quarter.
MICROCAPITAL BRIEF: High Court of Indian State of Andhra Pradesh Upholds Microfinance State Law, Rejecting Microlenders’ Petitions
The High Court of the Indian state of Andhra Pradesh reportedly ruled to uphold the Andhra Pradesh Microfinance Institutions (Regulation of Money Lending) Act, 2010, despite petitions brought by Indian microlender SKS Microfinance and other microfinance institutions (MFIs) seeking to have the law repealed.
MICROCAPITAL BRIEF: Suryoday Micro Finance of India Raises $3.8m from Lok Capital, Aavishkaar, HDFC
Suryoday Micro Finance Private Limited, an Indian microfinance institution (MFI), is reportedly seeking to increase its customer base by 1 million by 2014 and has raised INR 20 crores (USD 3.8 million) in capital from three of its investors: Aavishkaar Goodwell, a for-profit, Indian-Dutch joint venture; Lok Capital, a Mauritius-based microfinance investment vehicle; and the Housing Development Finance Corporation (HDFC), an India-based housing finance company.
MICROFINANCE PAPER WRAP-UP: “Map of Microfinance Distribution in India” by Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF)
By Amulya Krishna Champatiray, Parul Agarwal and Santadarshan Sadhu; published by the Centre for Micro Finance (CMF); 2012; 41 pages; available at: http://www.centre-for-microfinance.com/wp-content/uploads/2012/02/Updated_Final_Report_Map_of_Microfinance_Report_CMF_June27.pdf
This report summarizes the findings of an initiative that gathered information on the portfolios, products and business correspondents of 103 microfinance institutions (MFIs) across India.