The Reserve Bank of India (RBI), the central banking authority of the country, recently established a 14-member committee with the objective of implementing a five-year action plan for financial inclusion.
Search Results for: Microfinance Institutions Bill India
MICROCAPITAL BRIEF: Tanzania’s FINCA Microfinance Bank, Bharti Airtel to Provide Mobile Banking Services
FINCA Microfinance Bank (formerly FINCA Tanzania), an affiliate of nonprofit microfinance network FINCA International, has announced a partnership with Bharti Airtel, an Indian telecommunications company, aiming to provide mobile banking microfinance services to FINCA’s clients in Tanzania.
MICROCAPITAL BRIEF: C-Quadrat Asset Management’s Vision Microfinance Funds Issue $5.5m in Credits to Microfinance Institutions (MFIs) in Bolivia, Ecuador, El Salvador, Georgia, India, Mongolia, Nicaragua
During July 2015, Austrian asset manager C-Quadrat Asset Management issued loans worth USD 6 million via its two Vision Microfinance funds to unspecified microfinance institutions (MFIs) in Bolivia, Ecuador, El Salvador, Georgia, India, Mongolia and Nicaragua.
MICROCAPITAL BRIEF: Symbiotics Issues $26m in Bonds for Coopeservidores Cooperative of Costa Rica; Fusion Microfinance, Suryoday of India
Symbiotics, a Switzerland-based for-profit investment intermediary, recently issued bonds for Coopeservidores, a Costa Rican savings and credit cooperative, in the amount of USD 12.5 million; Fusion Microfinance, an Indian microfinance institution (MFI), in the amount of USD 7 million; and Suryoday Microfinance Private Limited (Suryoday), another Indian MFI, in the amount of USD 6.8 million.
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: BIO, Oikocredit Invest $8.3 million in Fusion Microfinance of India
Fusion Microfinance (Fusion), a microfinance institution (MFI) based in New Delhi, has received a combined investment of INR 53 crores (USD 8.28 million) from Belgian Investment Company for Developing Countries SA (BIO), an investment company backed by the government of Belgium; and the Dutch cooperative investment fund Oikocredit.
MICROCAPITAL BRIEF: Good World Solutions Uses Mobile Surveys to Promote Microfinance Client Protection
Good World Solutions (GWS), a US-based nonprofit organization that develops anonymous tools for people to report on how companies treat them, has built a mobile-based interactive voice response survey service to gather information from microfinance borrowers in India to determine whether microfinance institutions (MFIs) are following the client protection principles of the US-based Smart Campaign.
MICROFINANCE EVENT: Microfinance Information Exchange (MIX) Market to Host Webinars on “Data Driven Social Performance Management,” May 26-27, 2015
Event Name: Webinar: Data Driven Social Performance Management
Event Dates: English-language webinars will be held on May 26, 2015, at 7:00 AM Eastern US Time and May 27, 2015, at noon Eastern US Time. A Spanish-language version of the webinar will be held on May 28, 2015 at noon Eastern US Time.
MICROCAPITAL BRIEF: Grameen Capital India Raises Undisclosed Sum to Loan to Social Enterprises
Grameen Capital India, a Mumbai-based social business, recently raised fresh investment funds to provide debt finance for social enterprises in India from new investors including Ratan Tata, the former chairman of the India-based conglomerate Tata Group; Shrinivas Dempo, the chairman of Indian mining company Dempo Group; and Indian investment banker Vikram Gandhi. This is in addition to additional funds sourced from existing investors, the US-based nonprofit organization Grameen Foundation and two individual Indian investors, Amit Patni and Arihant Patni [1].
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Grants Self-Regulatory Organization (SRO) Status to Indian Microfinance Network Sa-Dhan
Sa-Dhan, a microfinance network in India with 251 member organizations, reportedly has been granted status as a self-regulatory organization (SRO) by the Reserve Bank of India, the country’s central banking authority.
MICROCAPITAL BRIEF: Goodwell West Africa Acquires 30% Stake in Microfinance Institution Women’s World Banking Ghana (WWBG)
Goodwell West Africa, one of four funds of the Netherlands’ Goodwell Investments, recently acquired a 30-percent share of Women’s World Banking Ghana (WWBG).
MICROCAPITAL BRIEF: Satin of India Borrows $10m over 8 years from WorldBusiness Capital, Facilitated by IFMR Capital
Satin Creditcare Network Limited, a microfinance institution based in Delhi, India, recently borrowed INR 628 crore (USD 10 million) from WorldBusiness Capital (WBC), a US-based lender to small and medium-sized enterprises (SMEs).
MICROCAPITAL BRIEF: Triodos Investment Management Disburses Loans to Micro-, Small, Medium-sized Enterprise (MSME) Lenders in Cambodia, Colombia, India, Jordan, Uzbekistan
Triodos Investment Management, a subsidiary of Netherlands-based Triodos Bank, recently disbursed loans of undisclosed amounts to Annapurna Microfinance, an Indian microfinance institution (MFI); Asociacion Fondo de Desarrollo (FDL), an MFI in Nicaragua; Crezcamos, a Columbian MFI; Hamkorbank, a commercial bank in Uzbekistan; Intean Poalroath Rongroeurng (IPR), an MFI in Cambodia; Intellegrow, a nonbanking financial company (NBFC) serving small and medium-sized enterprises (SMEs) in India; and Vitas Jordan, an Amman-based MFI [1].
MICROCAPITAL BRIEF: Manappuram of India Acquires 70% Stake in Asirvad Microfinance of India for $21m
Manappuram Finance, an India-based non-banking finance company, recently acquired 70 percent of the shares of Asirvad Microfinance, a microfinance company based in India that provides enterprise loans, for INR 136 crores (USD 21.4 million). Manappuram will acquire the shareholding via a combination of purchasing shares from existing shareholders and subscribing to new equity shares of Asirvad.
MICROCAPITAL BRIEF: Muthoot Finance, FIS to Bring Automated Teller Machines (ATMs) to Rural India
Muthoot Finance, an Indian non-banking finance company (NBFC) that offers money transfers and loans using gold items as collateral, recently partnered with Fidelity National Information Services (FIS), a US-based banking and payment technology provider, to introduce Muthoot-branded automated teller machines (ATMs) in rural areas of India.
MICROCAPITAL BRIEF: Utkarsh Micro Finance, Advans SA Land $24m in Equity from CDC, Lok Capital, Aavishkaar Goodwell India, International Finance Corporation, Norwegian Microfinance Initiative
The Commonwealth Development Corporation (CDC), a development finance institution owned by the UK government, has announced that it has made an equity investment of USD 11 million in Utkarsh, a northern Indian microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Revises Regulations for Non-bank Financial Companies
The Reserve Bank of India (RBI), the country’s central banking authority, recently announced that it has revised its regulatory framework for non-bank financial companies (NBFCs).
MICROCAPITAL BRIEF: Reserve Bank of India (RBI) Enables “Small Finance Banks” in Effort to Promote Financial Inclusion
The Reserve Bank of India (RBI), the country’s central banking authority, recently issued guidelines for the licensing of “small finance banks,” which are intended to provide credit and savings services to small businesses, small-scale farmers and other entities in the “unorganized sector.”