Tag Archives: microfinance news

With a drop of 26% in loans and a 16% decline in loan amount disbursed, the third quarter ending December 2016 would be the worst in performance for the microfinance industry in its history, said the industry self-regulator Microfinance Institutions Network (MFIN). "The pulling out of the High-Value Currency Notes (HCVNs) from circulation significantly impacted the microfinance sector, which is ...

Kerala-based ESAF Microfinance and Investments will open five of its pilot small finance bank (SFB) branches on 11th March in Kerala and provide banking services to customers from 18 March. Initially, Esaf plans to have 15 branches and open 70 more in the next quarter. the Esaf Microfinance was given the RBI nod in November to start the SFB operations. ...

Amid rumours of IndusInd Bank acquiring Bharat Financial or former SKS Microfinance, which was the first to go IPO route to successfully raise funds, markets are set to turn their attention to the lucrative market segment again. Private Banks have increasingly turned their attention to microfinance institutions as the IPO route has clearly indicated their potential not only as junior ...

The Budget 2017 has received a mixed reaction from the microfinance industry that was worst-hit due to demonetisation. Though the budget was mainly rural-centric with several schemes and infrastructure for the villages, it has failed to address the long-standing demand to waive off the service charges for the MFIs as they serve the bottom of the pyramid and poor borrowers, said ...

Chicago-based PE Fund Creation Investments has invested Rs.130 crore in Muthoot Microfinance, making it a significant deal in the BFSI & microfinance space after the Indian Government’s demonetization-digital-cashless economy initiatives. With this deal, Creation Investments will hold 11% stake in Muthoot Microfin Ltd. The capital raised will be utilised to serve BoP clients and to expand business to newer geographies ...

Nandan Nilekani has again set his eyes on a microfinance venture after an experiment that failed a decade ago in Bangalore by his family members. This time he was able to rope in Ratan Tata, chairman emeritus of the Tata group, Nandan Nilekani, former chairman of the Unique Identification Authority of India, and former finance secretary Vijay Kelkar. Since technology ...

The news story in Mint  suggested alarm bells over the rapid growth of microfinance industry in the last three years, not taking into consideration the vital impact of technology on widening the client base and serving them instantly. The rapid IT modernisation has yielded in higher operational efficiency and doubling the number of customers served by each field officer, compared ...

Backed by RBI license to start a Small Finance Bank (SFB), Bangalore-based Ujjivan adn Chennai-based Equitas have hit the IPO route this year to make a winning streak in collecting more than expected funds from the public and now they are swaying the markets. Ujjivan Financial Services shares rallied at 20% reaching to Rs 400 on Friday, while its Chennai ...