“Invisible Giants;” by Lindsay Levin; published by Vala Publishing; March 2013; 176 pages, available for purchase at: http://vala.wazala.com/?page=product_det&id=112381
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MICROCAPITAL BRIEF: Reserve Bank of India (RBI) May Consider Raising Margin Cap on Microloans if MFIs Relinquish Priority-Sector Status
The Reserve Bank of India (RBI), the country’s central bank, reportedly has refused to remove the 26-percent interest rate cap on loans disbursed by microfinance institutions (MFIs) or to alter margin caps for individual loans to borrowers, despite opposition from within the sector.
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.
MICROFINANCE PAPER WRAP-UP: “Microfinance in Myanmar Sector Assessment”; by Eric Duflos, Paul Luchtenburg, Li Ren and Li Yan Chen; published by CGAP (Consultative Group to Assist the Poor), International Finance Corporation
By Eric Duflos, Paul Luchtenburg, Li Ren and Li Yan Chen, published by CGAP (Consultative Group to Assist the Poor) and International Finance Corporation, January 2013, 43 pages, available at: http://www1.ifc.org/wps/wcm/connect/d87bf8804e5aba9bad7dadfce4951bf6/Microfinance+in+Myanmar+Sector+Assessment-Final.pdf?MOD=AJPERES
This joint CGAP (Consultative Group to Assist the Poor) and International Finance Corporation (IFC) report reviews the current state of Myanmar’s microfinance sector and the challenges involved with its future development.
MICROFINANCE PAPER WRAP-UP: “Vulnerability: The State of the Microcredit Summit Campaign Report, 2013;” by Larry R. Reed; Published by the Microcredit Summit Campaign; 48 Pages
By Larry R. Reed; published by the Microcredit Summit Campaign; 2013; 48 pages; available at: http://stateofthecampaign.org/multimedia/print-version/
This report is the latest iteration of an annual assessment issued by the Microcredit Summit Campaign, a project launched in 1997 by the Results Educational Fund (REF), a US-based nonprofit that seeks to reduce poverty. The report indicates that the number of people living in extreme poverty with access to financial services has declined from 138 million in 2010 to 125 million in 2011, the first decrease since the organization began compiling the report in 1998.
MICROCAPITAL BRIEF: Indian Microlender SKS Microfinance Reports Profits After Seven Quarters of Losses
SKS Microfinance, an Indian microlender listed on the country’s National and Bombay Stock Exchanges, recently reported a net profit of INR 11.5 million (USD 209,000) for the quarter ending December 2012, the first quarterly profits for SKS Microfinance in two years. Loans disbursed rose 14 percent to INR 7.8 billion (USD 142 million).
MICROFINANCE EVENT: Third Annual Seminar on Risks in Indian Microfinance, February 18, 2013, Pune, Maharashtra, India
Event Name: Third Annual Seminar on Risks in Indian Microfinance
Event Date: February 18, 2013
Event Location: Pune, Maharashtra, India
MICROCAPITAL BRIEF: Accion’s Frontier Investments, Saama Capital Invest $4m in Equity in Shubham Housing Development Finance of India
Frontier Investments Group, an investment vehicle of the US-based nonprofit Accion, recently announced that it, along with Saama Capital, a venture focused investment firm in India, invested a total of USD 4 million in equity in India’s Shubham Housing Development Finance Company.
MICROCAPITAL BRIEF: SKS Microfinance of India Completes $10m Securitization, Stock Reaches 52-Week High
SKS Microfinance, an Indian microfinance institution (MFI), reportedly has completed a securitization deal worth INR 544 million (USD 10 million).
MICROCAPITAL BRIEF: ACLEDA Bank of Cambodia to Launch Microfinance Operations in Myanmar in January 2013
In Myanmar, which recently lifted restrictions barring wholly foreign-owned direct investments, ACLEDA Bank Public Limited Company (PLC), a Cambodian commercial bank specializing in microfinance, plans to launch microfinance operations by January 2013.
MICROCAPITAL BRIEF: National Bank for Agriculture and Rural Development (NABARD): Non-Performing Assets (NPAs) Owed by Self-Help Groups (SHGs) in India Rise 50% to $400m
The National Bank for Agriculture and Rural Development (NABARD), an institution of the Indian government, released a report entitled “Status of Microfinance in India, 2011-12” that indicates that non-performing assets (NPAs) owed by self-help groups (SHGs) in the country were increasing and that lenders were cutting back their exposure to SHGs as a result. SHGs are village based financial intermediaries that facilitate microcredit and saving.
MICROCAPITAL BRIEF: SKS Microfinance of India Announces $36m Securitization Under Amended Reserve Bank of India Guidelines
SKS Microfinance, an Indian microfinance institution (MFI), reportedly has announced its first microfinance securitization of INR 2 billion (USD 36.4 million) since the Reserve Bank of India (RBI), the country’s central banking authority, revised the guidelines for securitizations issued by non-banking finance companies (NBFCs) in August 2012.
MICROCAPITAL BRIEF: Private Equity Firms Investing in Indian Microfinance Institutions (MFIs) After Two-Year Hiatus
Private equity firms are beginning to invest in Indian microfinance institutions (MFIs) that offer products such as insurance, pension plans and chit funds in order to diversify their portfolios. It is reported that private equity firms have invested INR 7.5 billion (USD 138 million) in Indian MFIs this year, as compared to INR 2.5 billion (USD 46 million) invested in 2011.
MICROFINANCE PUBLICATION ROUND-UP: Analysis of Microfinance Investment Vehicles; Female Microfinance Clients in Pakistan; Life Microinsurance in the Philippines
“The State of Microfinance Investment 2012: MicroRate’s 7th Annual Survey and Analysis of MIVs;” published by MicroRate; October 2012; 17 pages; available at: http://www.microrate.com/downloads/78
MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $18m in Equitas Microfinance India, Private Equity Funds Looking to Invest in Indian Microfinance Institutions
The International Finance Corporation, a member of the World Bank Group, reportedly has proposed investing INR 1 billion (USD 18.9 million) in Equitas Microfinance India, an Indian microfinance institution (MFI).
MICROFINANCE PUBLICATION ROUND-UP: Microfinance Microscope 2012; Impact of Financial Access in Bosnia and Herzegovina; Economic Opportunities and Financial Outcomes of Microfinance
“Global Microscope on the Microfinance Business Environment 2012;” by the Economist Intelligence Unit; published by The Economist; 72 pages; available at: http://www5.iadb.org/mif/en-us/home/knowledge.aspx?idPublication=64206
MICROCAPITAL BRIEF: Sonata Finance of India Raises $6m in Equity from Creation Investments, Michael and Susan Dell Foundation, Individual Investors
Sonata Finance Private Limited, an Indian microfinance institution (MFI) that serves India’s northern states, recently announced that it has closed a Series D equity raise of INR 350 million (USD 6.71 million).
MICROCAPITAL BRIEF: MFTransparency Partners with Planet Rating, Microfinance Institutions Network (MFIN) of India to Improve Pricing Transparency
MFTransparency, a US-based nongovernmental organization (NGO), recently partnered with Planet Rating, a microfinance rating agency that is a member of the France-based PlaNet Finance Group, and Microfinance Institutions Network (MFIN), a trade association of microlenders in India.