Tag Archives: microfinance

Ujjivan Reports Decline in Profit Due to Non-Repayments Post-Demonetisation

Ujjivan Financial Services has reported 64.76% decline in its net profit which stood at Rs.19.35 crore in the quarter ended March 31, 2017. Last year, it reported a net profit of Rs 54.91 crore in the corresponding quarter. Attributed to non-repayment and serious delinquency issue in many part of the country after demonetisation, Ujjivan is alone among large MFIs facing ...

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IFMR Institute in Chennai to Become University Soon

Chennai-based Institute for Financial Management and Research (IFMR), is to become a full-fledged private University soon. IFMR Chennai, now in Sri City, which has been attracting students aspiring for management education, especially in social service and related areas, received letter of intent from the Andhra Pradesh State government for a Private University, said a statement. Known for its policy-oriented research ...

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Hassan BJP Leader Holds Protest Against MFIs

Hassan in Karnataka saw several women under the local BJP leader Agile Yogish stage protest in front of the Deputy Copmmissioner’s office raising slogans against microfinance institutions for demanding repayment of loans they have taken. The women alleged that the representatives of microfinance institutions were harassing them for loan recovery, which was denied by the representatives of the Association of ...

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Cash Crunch, Future Lending Dominate Financial Inclusion Summit 2016

The two-day Inclusive Finance India Summit, formerly known as Microfinance India Summit, concluded on Tuesday with bankers and lenders vowing to stem the cash crunch that is hitting the industry across the country due to demonetisation. Two important reports by organisers Access India were released – The Inclusive Finance State of the Sector Report by Prof M S Sriram (IIM-B) ...

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Ujjivan May Get Rs.260 Cr ($40 Mln) from IFC in 2 Days

Bangalore-based Ujjivan Financial Services may get a debt investment from the World Bank arm International Finance Corporation (IFC) to the tune of US$40 million (Rs.260 Crore) that may be announced after its Board meeting on Thursday. IFC’ debt support was an on-going infusion of funds into the microfinance company with which Ujjivan is expected to stabilize growth and manage liability ...

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CreditAccess Raises $30 Million from Olympus, to Invest in MFIs

Multi-country microfinance operator CreditAccess Asia, based in Netherlands, has raised $30 million from Hong Kong-based private equity firm Olympus Capital Asia, heralding the first fundraising in 2016. The money raised will be used for Asia-based operations and their expansion in line with its future plan to enter two more countries, apart from India and southeast Asia, where it is operational ...

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Ujjivan Plans to go Public, to Issue IPO Soon

Bangalore-based Ujjivan Financial Services Pvt. Ltd. is likely to go public to raise funds required for it to transform into a small finance bank (SFB) next year, reported MINT citing its earlier hints at the MFI holding talks with investment banks, speculating an early January filing for IPO. Ujjivan was originally planning to raise Rs. 1,500 crore through its initial ...

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IFC Report Not Optimistic on Arab World’s Microfinance Sector

In a new study, the World Bank’s investment arm International Finance Corporation (IFC) said the Arab World’s microfinance sector is facing serious challenges in view of the external risks, security concerns, and over-indebtedness. The study, conducted in conjunction with Sanabel, the Microfinance Network of Arab Countries, said tackling those problems will be key to spurring the development of the industry. ...

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