The objective of the Bill is to ensure development and orderly growth of the micro-finance sector in rural and urban areas
New Delhi: The Union Cabinet is likely to soon approve the Micro Financial Sector (Development … Read the full story »
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Microfinance Institutions In India
SKS Microfinance, a Hyderabad-based non-banking finance company, has received a strategic investment of Rs 50 crore from general and life insurance firm Bajaj Allianz Life Insurance. SKS Microfinance and Bajaj Allianz partnered in April 2008 to launch India’s first micro-insurance product for the rural poor.
With this investment, SKS Microfinance will further improve its capital adequacy ratio requirements. In recent months, SKS has introduced a range of mainstream financial instruments into microfinance. It has issued non-convertible debentures (NCDs) worth Rs 25 crore that were fully subscribed by Yes Bank and also completed a rated pool securitisation deal worth Rs 100 crore.
It has also issued commercial papers worth Rs 25 crore and tied up with Standard Chartered to raise Rs 75 crore from the debt capital market and became the first MFI to list its debt security. “An investment in SKS by a mainstream investor such as Bajaj Allianz is a vote of confidence in the company and in microfinance.
Investment from a leading private insurer gives SKS greater stability and credibility, as well as a stronger capital base to extend our reach to serve more poor customers,” SKS founder and chairman Vikram Akula stated in a press release on Thursday. SKS Microfinance currently has a membership base of 4.5 million households and has cumulatively disbursed loans worth over Rs 8,000 crore. It has staff strength of 14,249 across 1,439 branches in 19 Indian states.
BRUSSELS, July 2 (Reuters) – The European Commission said on Thursday it would create a 100 million euro ($141.1 million) micro-finance facility to provide credit to small businesses and encourage people who have lost jobs … 
HYDERABAD: Nabard Chief General Manager KV Raghavulu said the Bank would disburse about Rs 1,600 crore to the State under RID F projects.Already, Rs 1,770 crore was disbursed to Cooperative Banks under Dr Vaidyanathan Committee … 
Mac Margolis
Our Rio de Janeiro correspondent,Mac Margolis, delves into a new microfinance study, and wonders whether the much-lauded sector is about as efficacious as a subprime CDO and as bubbly as a Pets.com equity … 
A microfinance course explaining the fundamentals of Microfinance.
The Centre for Micro Finance (CMF) at the institute for Financial Management and Research (IFMR), Chennai, India invites applications for the “ Rapid Immersion into Microfinance training programme” … 
Thirty-seven-year-old Sivan Pandiyan had to run from pillar to post for over seven to eight months to get a meagre Rs 5,000 as loan from a bank to carry out the maintenance and repair work … 
Microfinance is emerging as the most funded sector in recent times if the recent funding action is anything to go by.
Grama Vidiyal Micro Finance Limited (GVMFL), a Tamil Nadu based microfinance institution, has raised $4.25 … 
While ESAF Microfinance and Investments has raised Rs 12 crore, Navachetna Microfin Services has raised Rs 1.5 crore.
By Ruchika Sharma (VCCircle.com)
Two South based microfinance companies, ESAF Microfinance and Investments (EMFIL) and Navachetna Microfin Services Ltd, … 
SKS Microfinance, the largest microfinance player in the country in terms of assets, is looking beyond pure bank funding for their business. It is set to raise Rs 500 crore through a variety of rated … 
We’ve already written about a few microfinancing platforms focused on the developing world, including Kiva and C4-World. Next up is Mobile Movement, a Canadian initiative we just learned about that works via mobile phone.
Few young … 
