Tag Archives: microfinance institutions

ICRA Cuts Outlook On Janalakshmi Microfinance to Negative

Ratings agency ICRA has cut the credit rating for Janalakshmi Financial Services Ltd (JFSL), from "A+" Positive to "A+" Negative in view of the impact of demonetisation and increasing non-performing assets or failure on overall collections. In its note, the rating agency attributed the negative outlook to soon-to-be-turned small finance bank Janalakshmi’s collections which have gone down to 78% in ...

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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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Post-Microfinance Crisis, ‘Call Money’ Racket Triggers New Wave of Suicides in AP Now

In 2009-10, Andhra Pradesh was beset with series of suicides from unregulated microfinance institutions and finally the state government cracked the whip on them that only regulated RBI-registered microfinance institutions operate out of Andhra Pradesh now. In fact, major banks have refused to lend money to any microfinance institution for operations in Andhra Pradesh even now. While the 2010 crisis ...

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