Former RBI deputy governor appointed as chairman of MFI panel
Members of the steering committee include Harsh Shrivastava of MFIN, P Satish of Sa-Dhan, Srinivas Bonam of IndusInd Bank and Sonia Krishnankutty of L&T Finance among others.
RBI increases income & loan limits for NBFC-MFI
In the wake of the Andhra Pradesh micro finance crisis in 2010, a Sub-Committee of the Centra...
Microfinance reaching less than 20% of potential household: Equifax’s Manu Sehgal
Reaching to last mile borrowers is going to be the key to N...
Micro lenders cap total loans to ₹1 lakh per borrower
This revised code has been in the works for the past year to expand the scope of it from a mere code of conduct for NBFC-MFIs to a code for the entire micro-credit industry.
Microfinance industry grew by 42.9% in Q1 of FY'20
Banks hold the largest share of portfolio in micro-credit with total loan outstanding of Rs 78,060 crore, which is 40.9 per cent of the total micro-credit universe.
RBI sets average base rate of 9.18% for NBFC-MFI borrowers for July quarter
The central bank in a circular in 2014 had communicated to NBFCs and MFIs regarding pricing of credit on the last working day of every quarter.
ICRA Online launches cloud-based mutual fund tracker
MFI 360 aims to address the mutual fund research, analysis and portfolio tracking requirements of IFAs, distributors, wealth managers.
Fincare Small Finance Bank plans Rs 1,200 crore IPO, hires bankers
As per central bank norms, SFBs need to have a holding company as a promoter and the bank to be listed in three years of commencement of operations.
HDFC Banking and PSU Debt Fund
HDFC Banking & PSU Debt Fund “the Scheme” , with an AUM of Rs. 3,888 Cr as of 31st October 2019 focuses on generating income/capital appreciation by investi...
MFIs to continue their growth trajectory, may see more mergers after IndusInd-BFIN: ICRA
These companies which lend small ticket retail loans mostly to consumers having difficulty securing loans from bigger banks are expected to carry forward the growth momentum in 2019 as well.
MFI loan book growth hits 43% at Rs 1.66 trn in Q3
Total number of microfinance accounts were at 8.91 crore as of December 2018, showing a growth of 24.3 per cent.
Dvara KGFS acquires Varam Capital
According to Dvara, Varam Capital’s presence in Chhattisgarh and products will enable the combined entity to have a bigger presence in the country’ eastern region
Nordic Microfinance Initiative raises its investment in Svasti Microfinance
Nordic Microfinance Initiative (NMI) has raised its investment in Mumbai-based Svasti Microfinance while Michael & Susan Dell Foundation and Bamboo Capital Partners have exited in a $10 million share sale which includes both primary and secondary deals. The fresh investment has raised Mumbai-based microfinance’s net worth to Rs 100 crore.
RBI sets NBFC-MFIs' average base rate at 9.21% for April-June
The regulator in February 2014 had issued directions to NBFC-MFIs regarding pricing of credit.
Satya MicroCapital reaches over 2.25 lakh entrepreneurs
Keeping up with the post-demonetisation tide, the company’s focus on lending using digital financial solutions to women entrepreneurs specially has also been well-received.
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