Bengaluru-based agricultural technology firm CropIn recently raised USD 8 million in its Series B funding round to improve and expand usage of its mobile apps and other software for agri-business. This software processes satellite imaging to predict future crop outputs as well as offering “real time insight on standing
Tag: India
MICROFINANCE EVENT: Inclusive Finance India; December 11 – 12, 2018; New Delhi, India
The goal of Inclusive Finance India 2018 is to present a global perspective on topics such as “financial inclusion policy, regulation, supervision, technology advancements, client protection and institutional framework.” Although this year’s agenda is not yet available, last year’s event included sessions titled “Digital
MICROCAPITAL BRIEF: Utkarsh SFB Using ACI’s UP Retail Payments Solution to Expand Payment-card Usage in India
India-based Utkarsh Small Finance Bank (SFB), a former microfinance institution, recently upgraded its implementation of the Universal Participation (UP) Retail Payments solution from US-based financial services enabler ACI Worldwide, enabling Utkarsh “to acquire, authenticate and authorize, route and protect card and digital payments from multiple channels.” The transition also gives Utkarsh access to the
MICROFINANCE EVENT: Sankalp Global Summit; December 11-12, 2018; Mumbai, India
Themed “Agenda 3 Billion – Building Entrepreneurial Ecosystems,” the 10th Sankalp Global Summit is organized around the following sectors: agriculture, clean energy, health & sanitation, financial inclusion, and livelihoods. Sample presentation titles include: (1) Financial Inclusion in the Digital Age,
MICROCAPITAL BRIEF: Sa-Dhan, Accion’s Smart Campaign, IFC Launching Tool to Monitor Over-indebtedness Among Microfinance Borrowers in India
Sa-Dhan, an association of 190 financial services providers in India, and the Smart Campaign of US-based NGO Accion recently announced the launch of an online monitoring tool intended to increase consumer protection and reduce over-indebtedness
MICROFINANCE EVENT: Microfinance & NBFCs Exhibition Cum Conference; October 11, 2018; Kolkata, India
The Fifth Microfinance & NBFCs Exhibition Cum Conference is intended to provide business development opportunities for microfinance institutions (MFIs) and non-banking financial companies (NBFC). The conference agenda includes case studies of NBFCs and MFIs; leadership awards; and panel discussions with titles such as: (1) Adoption and Affordability of Technologies: Challenges & Implications; (2) Safe & Secure Digital Customer Services; (3) and Collaboration & Partnerships: Key for Sustenance in the Changing Economy.
The confirmed list of
MICROCAPITAL BRIEF: CreditAccess Grameen IPO Raises $164m on Bombay Stock Exchange, National Stock Exchange of India
CreditAccess Grameen Limited, the Indian subsidiary of CreditAccess Asia, recently held its initial public offering (IPO) on India’s Bombay Stock Exchange and the National Stock Exchange of India. CreditAccess Grameen raised
MICROFINANCE EVENT: Futuristic Financial Intelligence Summit; September 28, 2018; Mumbai, India
Event Summary: The first Futuristic Financial Intelligence Summit will address developments in financial technology (fintech) including
MICROCAPITAL BRIEF: Triple Jump, MicroVest Lend $10m to Indian Microfinance Institution Aye Finance
Aye Finance, a non-banking financial company-microfinance institution (NBFC-MFI) in India, recently issued USD 10 million in non-convertible debentures in undisclosed portions to two microfinance fund management firms, Netherlands-based Triple Jump BV and US-based MicroVest Funds. Aye intends to use the proceeds to expand its small and medium-sized enterprise (SME) loan portfolio.
MICROFINANCE EVENT: Sa-Dhan National Conference: “Propelling the Growth of the Informal Sector through Microfinance;” September 19-20, 2018; New Delhi, India
The aim of this event is to continue discussions on how to realize the goals of Pradhaan Mantri Jan Dhan Yojana, India’s national financial inclusion program. This year’s gathering will focus on how microfinance institutions (MFIs) can use technology to expand their outreach to more low-income customers.
MICROCAPITAL BRIEF: Microfinance Institution Janalakshmi of India Converts to Jana Small Finance Bank
Jana Small Finance Bank (SFB), the successor to Indian microlender Janalakshmi Financial Services, recently announced the launch of its operations. Jana obtained its SFB license from the Reserve Bank of India (RBI) in April 2017, but the launch was delayed by losses attributed to India’s 2016 demonetization.
MICROCAPITAL BRIEF: IFC Loans $93m to Mahindra Finance for Microloans Targeting Farmers, SMEs, Women in India
The International Finance Corporation (IFC), a unit of the World Bank Group, recently loaned INR 6.4 billion (USD 93 million) to Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a non-banking financial company owned by the India-based Mahindra Group. Mahindra Finance plans to use the funding to expand its lending to small and medium-sized enterprises (SMEs)
MICROCAPITAL BRIEF: Base of Pyramid Asia (BOPA) Invests $2.5m in Equity in Indian Microfinance Institution (MFI) Sambandh Finserve
Base of Pyramid Asia (BOPA) Private Limited, a microfinance investment firm in Singapore, recently invested USD 2.5 million to buy a stake of undisclosed size in Sambandh Finserve Private Limited, an Indian microfinance institution that is organized as a non-banking financial company.
MICROCAPITAL BRIEF: Microfinance Institutions Network (MFIN) Reports Increasing Delinquency in India; L&T Finance, Bharat, Utkarsh Rejecting Up to 30% of Loan Applications Due to Multiple Borrowing
The Microfinance Institutions Network (MFIN), a self-regulating body representing 48 microfinance institutions (MFIs) in India, reports that 2.83 percent of non-group microloans in the country have at least one payment overdue by more than 180 days as of March 2018,
MICROCAPITAL BRIEF: Oman India Joint Investment Fund (OIJIF) Buys $23m Equity Stake in India’s Annapurna Microfinance
The Oman India Joint Investment Fund (OIJIF), a private equity investor associated with the governments of India and Oman, recently placed an equity investment of INR 1.6 billion (USD 23 million) in Annapurna Microfinance Private Limited, a non-deposit-taking microfinance institution (MFI)
MICROCAPITAL BRIEF: Fusion Microfinance of India Cuts Interest Rate from 24.6% to 23%
Fusion Microfinance Private Limited, an Indian non-banking financial company, recently reduced the interest rate it charges on microloans from 24.6 percent to 23 percent per year for pre-existing customers. The rate for first-time borrowers was also 24.6 percent but is now 23.5 percent.
MICROCAPITAL BRIEF: L&T Finance Rolling Out Instant Loan Approvals, Expanding Microlending to Women in India
Larsen and Toubro (L&T) Finance Limited, a subsidiary of India-based L&T Finance Holdings that lends to women, recently debuted an app that is intended to “enable seamless customer on-boarding by providing instant loan sanctioning.”
MICROCAPITAL BRIEF: India’s RBL Bank Completes Ownership of Microfinance Institution (MFI) Swadhaar Finserve with Equity Purchases from Accion, Individual Investors
RBL Bank Limited, an Indian commercial bank formerly known as Ratnakar Bank Limited (RBL), recently bought out the other owners of Swadhaar Finserve Private Limited (SFPL), a microfinance institution (MFI) providing loan, deposit and insurance services to low-income households as well as micro-, small