Sthreenidhi, an apex cooperative credit society set up in 2011 by the government of the Indian state of Andhra Pradesh, reportedly will disburse INR 450 crore (USD 81.6 million) for livelihood promotion and education and skill development loans.
Search Results for: pradesh
MICROCAPITAL BRIEF: Swarna Pragati Housing Microfinance, Accion Invest $4.5m in Saija Finance of India
Swarna Pragati Housing Microfinance Limited, an Indian housing finance company, and Accion, a US-based nonprofit, reportedly have invested USD 4.5 million in Saija Finance, an Indian microfinance institution (MFI).
MICROCAPITAL BRIEF: Indian Microfinance Institution Grameen Koota Raises $5m from responsAbility through Nonconvertible Debentures
Grameen Financial Services Private Limited (Grameen Koota), an Indian microfinance institution (MFI), recently raised INR 25 crore (USD 5 million) in debt funding through the issue of secured, redeemable, non-convertible debentures (NCDs).
MICROCAPITAL BRIEF: Number of No-Frills Bank Accounts In India Surpasses 100m
The Reserve Bank of India (RBI) reportedly has announced that the number of no-frills or zero-balance account holders has doubled since 2010, rising to 103.2 million as of March 31, 2012.
MICROCAPITAL BRIEF: Indian Microfinance Institution Basix Sees Assets Fall from $326m to $22m
Indian microfinance institution (MFI) Basix, also known as Bhartiya Samruddhi Finance Limited, now reportedly has INR 124 crore (USD 22.37 million) in assets compared to the INR 1,808 crore (USD 326 million) it in September 2010. The number of borrowers from Basix has fallen to 200,000 from 1.74 million during same time period.
MICROCAPITAL BRIEF: SKS Microfinance of India to Offer Life Insurance
SKS Microfinance, an Indian microfinance institution (MFI), has announced plans to offer an endowment life insurance plan to its borrowers.
MICROCAPITAL BRIEF: India’s Insurance Regulatory and Development Authority (IRDA) Finds “Massive Problems” with Practices of SKS Microfinance
In conducting a set of field inspections, the Insurance Regulatory and Development Authority (IRDA), an Indian supervisory body, reportedly has detected “massive problems” in the handling of insurance by SKS Microfinance, a microfinance institution (MFI) in India.
MICROCAPITAL BRIEF: Union Cabinet of India to Present Microfinance Bill to Parliament
The Union Cabinet of India, a decision-making body of the executive branch of the government of India, reportedly has approved a bill proposing that all microfinance institutions (MFIs) register with the Reserve Bank of India (RBI) and maintain a minimum of funds equal to INR 5 lakh (USD 9,270).
MICROCAPITAL BRIEF: Indian Microfinance Sector Cautious on Branch Expansion, Hiring
Indian microfinance institutions (MFIs) reportedly are still cautious on expanding operations and hiring despite an improving business environment.
MICROCAPITAL BRIEF: Reserve Bank of India Extends Deadline for New Provisioning, Asset Classification Norms for Non-Banking Finance Company Microfinance Institutions
The Reserve Bank of India (RBI), India’s central banking authority, has extended the deadline for non-banking finance company (NBFC) microfinance institutions (MFIs) in India to implement new provisioning and asset classification norms.
MICROCAPITAL BRIEF: Small Industries Development Bank of India (SIDBI) to Commit $5.8m in Equity, Loans to Small Microfinance Institutions
The Small Industries Development Bank of India (SIDBI), a state-owned bank, has committed INR 300 million (USD 5.8 million), 30 percent of its microfinance development fund, to small Indian microfinance institutions (MFIs) that have not received commercial funding since the liquidity crisis began in the microfinance sector in the Indian state of Andhra Pradesh late in 2010.
MICROCAPITAL BRIEF: Draft Microfinance Institutions Bill in India to Moot Local Regulations, Allow RBI to Set Rate Cap, Establish Advisory Councils, Microfinance Development Fund
Indian Finance Minister Pranab Mukherjee has reportedly announced that he will propose a Microfinance Institutions (Development and Regulation) Bill in the current parliamentary session.
MICROCAPITAL BRIEF: 9.2m Microfinance Borrowers in India Have Defaulted Since 2010
It has been reported that approximately 9.2 million of 32 million Indian microfinance clients have defaulted on loan repayment since 2010.
MICROFINANCE PUBLICATION ROUND-UP: MIX Snapshot of Microfinance in Asia, How Social Entrepreneurs Spread Innovation, Impact of Thai Million Baht Village Fund
“2011 Asia Regional Snapshot;” published by the Microfinance Information Exchange (MIX); March 2012; 19 pages; available at:
http://www.themix.org/publications/mix-microfinance-world/2012/03/2011-asia-regional-snapshot
MICROCAPITAL BRIEF: Business Standard Reports on “New Breed” of Small Indian Microfinance Institutions
A recent article in the Business Standard, an Indian financial newspaper, recaps a few highlights of the Indian microfinance industry in the year following the enactment of the Regulation of Moneylending Act in late 2010 in the Indian state of Andhra Pradesh.
MICROCAPITAL BRIEF: Banks Recast Loans of $136m for Indian Microfinance Institution Bhartiya Samruddhi (Basix)
Unspecified banks have recently recast loans totaling INR 7 billion (USD 136 million) for Bhartiya Samruddhi Finance Limited (Basix), an Indian microfinance institution (MFI) [1].
MICROCAPITAL BRIEF: India’s SKS Microfinance Completes Securitization Deal Totaling $63m
SKS Microfinance Limited (SKS), a non-banking finance company (NBFC) regulated by the Reserve Bank of India (RBI), reportedly has raised INR 321 crore (USD 63 million) from four undisclosed banks “by selling securities backed by pools of loans to woman borrowers outside its home state of Andhra Pradesh.”
MICROFINANCE PUBLICATION ROUND-UP: Indian Microfinance, Treating Colombian Clients with Respect, and Expanding Microinsurance
“Indian Microfinance: Looking Beyond the AP Act and its Devastating Impact on the Poor;” published by Legatum Ventures; March 2012; 17 pages; available at: http://www.legatumventures.com/