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MICROFINANCE INSTITUTIONS NEWS

Why Karnataka has moved to curb harassment of borrowers by microfinance institutions

January 28, 2025 5:51 pm

Chief Minister Siddaramaiah’s office has announced an ordinance to protect borrowers’ interests; Karnataka reportedly accounted for 11% of all microfinance loans in 2022-23.

Statutory Provident Fund reduced to 10% from 12% for next 3 months: FM Nirmala Sitharaman

MFI industry seeks more refinance from DFIs in budget

January 27, 2020 12:02 pm

The industry has also urged the government to create a dedicated fund for MFIs which are financing water and sanitation projects.

RBI set to recognise supermarts, mobile companies as banks

July 18, 2014 8:46 am

The funds mobilised by the banks will be invested only in government securities.

A fresh start for microfinance

February 11, 2014 10:06 am

But consumer protection and redress cannot be left to the industry alone.

When chit funds are legit,and how cheats thrive on concept

April 29, 2013 12:32 am

Subhomoy Bhattacharjee explains how prize chits work,and why they are tough to regulate

SKS to axe 1,200 staff,shut 78 branches in AP

May 11, 2012 12:34 am

We have brought down the residual Andhra Pradesh exposure to Rs 236 crore from a high of Rs 1,491 crore in October 2010 by writing off Rs 1,120 crore, he said.

RBI not in favour of allowing MFIs to take deposits: Sinha

April 23, 2012 9:23 pm

RBI Deputy Governor Anand Sinha today indicated the central bank was not in favour of allowing micro-finance institutions (MFIs) to take deposits from public.

SKS raises FII cap to 74%

December 21, 2011 5:58 pm

Shareholders at the general meeting approved to increase investments of FIIs from 24% to 74%.

RBI allows MFIs to raise $10 million via ECBs

December 20, 2011 2:24 am

The RBI has allowed micro-finance institutions to raise up to $10 million through external commercial borrowings against the earlier limit of $5 million,a move that will widen their fund raising sources