microfinance news

India: ‘Two-wheeler finance picking up’…

6 Sep, 2010, 08.15AM IST, Sanjeev Sinha, ET Bureau
Retail finance was among the prominent sectors that faced the brunt of the economic slowdown after the sub-prime mess in the US. Most industry experts are still sceptical about the growth prospects in retail finance. However, Ruben de la Mora, president & CEO of Fullerton India, [...]

The Philippines: IFC, Daiwa stage bond issue…

(The Philippine Star) Updated September 07, 2010 12:00 AM
MANILA, Philippines – The International Finance Corp. (IFC), and Daiwa Securities Group plan to issue a bond this month that will expand access to finance

for poor and low-income entrepreneurs in developing countries. IFC is a member of the World Bank Group.
The bond is expected [...]

WSJ: India Journal: Financial Inclusion Helps More Than the Poor Search India Real Time…

By Arun Duggal
Financial inclusion is an idea whose time has finally come in India. It will enable hundreds of millions of low-income people to improve their economic and social status by participating in the financial system.
Not only have the government and the Reserve Bank of India become very keen to promote inclusion, [...]

India: MFIs increasingly raising money through securitisation…

30 Aug, 2010, 01.42AM IST, Shailesh Menon,ET Bureau
MUMBAI: Microfinance companies are increasingly adopting the securitisation model to raise capital. Over a dozen organised lenders have raised money over the past one year by selling their assets (micro-loan units) in the securitised form. This involves the pooling of similar type of micro-loans and repackaging them [...]

The Economist: Power to the people…

Technology and development: A growing number of initiatives are promoting bottom-up ways to deliver energy to the world’s poor
Sep 2nd 2010
AROUND 1.5 billion people, or more than a fifth of the world’s population, have no access to electricity, and a billion more have only an unreliable and intermittent supply. Of the people without [...]

India: ‘Citigroup will grow with India’…

New Delhi, September 02, 2010
Being the first Indian to head Citigroup, CEO Vikram Pandit says Citi will continue to support microfinance in India and work towards financial inclusion. Excerpts: Your job has been described as one the toughest banking jobs in the history… Leading Citi through one of the worst global slowdowns has [...]

SKS Microfinance Market Capitalization crosses US$ 2 Billion…

SKS Microfinance has risen by more than 30% on it’s issue price of Rs 985 .
The market capitalization of SKS Microfinance, India’s largest micro finance company which listed on the stock markets on the 16th August 2010 has crossed US$ 2 Billion in a short span of two week. The stock also made a [...]

Hints of the Subprime in New Microcredit…

John D Conroy | September 01, 2010
Enthusiasm for microfinance has surged since Professor Muhammad Yunus and his Grameen Bank shared the Nobel Peace Prize in 2006.
This November, APEC finance ministers will be asked to adopt an initiative on “financial inclusion” when they meet in Kyoto.
Unfortunately, this coincides with a wave of financialization of [...]

Thailand Post may provide microfinance centres…

Published: 31/08/2010 at 12:00 AM
Thailand Post offices nationwide could be transformed into microfinance centres as part of the government’s bid to extend financial services to lower-income groups, said Finance Minister Korn Chatikavanij.
The postal service’s 1,200 branches and tens of thousands of staff nationwide could serve as a broad distribution channel for [...]

After SKS success, more microfinance public issues are on the horizon…

Namrata Acharya / Kolkata August 31, 2010, 0:55 IST
It was merely a coincidence that the year after C K Prahalad’s bestseller, The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits (2004), that Vikram Akula returned to SKS Microfinance, leaving a consultancy job at McKinsey & Company in Chicago [...]

Bangladesh: Asia Microfinance Forum to focus on Financial Inclusion in Asia…

The Asia Microfinance Forum 2010 convened by the Banking With the Poor Network (BWTP) and organised by the Foundation for Development Cooperation (FDC) will be held in Colombo, Sri Lanka from 12-15 of October 2010. Citi Foundation is Lead Sponsor and Hatton National Bank, the Local Host for this event. Microfinance [...]

India: Top 100 Microfinance Institutions in the World…

For the third year running, MIX has released it’s Composite Ranking of the performance of microfinance institutions and Grameen Financial Services Pvt Ltd is the highest ranked Indian MFI at No 4 . Next comes SKS Microfinance at No 7, followed by Spandana at No 8. BASIX is ranked at No 11, SHARE at No 12 [...]

Kenya: Microfinance rules to suppress profit greed…

The Association of Microfinance Industry (AMFI) has adopted rules designed to govern and promote accountability among its members.
AMFI Chairperson Jennifer Riara, said rising concern worldwide on the effectiveness of microfinance to fight poverty had prompted the signing of the new regulation that was witnessed by 43 of its [...]

Fortune: Can microfinance be both moral and profitable?

by Nin-Hai Tseng, reporterAugust 19, 2010: 10:52 PM ET
FORTUNE — There’s a debate brewing in the world of do-gooder banking, pitting the father of microfinance Muhammad Yunus against a few entrepreneurs who have put an unlikely spin on Yunus’ model of lending to the poor.
Earlier this week, India’s biggest microlender, SKS [...]

India: Goodbye, microfinance…

12 Aug 2010, 0546 hrs IST,T K Arun,ET Bureau
Microfinance is slated to join the ranks of flintstones, the crossbow , gas lamps, the pigeon post and the floppy disk — all excellent in their own time but rendered obsolete by the march of technology.
What made microfinance tick? One, failure of formal finance [...]

Size matters as microfinance gives unemployed a First Step up to big things…

By Charlie Weston
Thursday August 12 2010
MICROFINANCE, where people who cannot get access to funding from banks are provided with credit, is set to mushroom and move into the mainstream, new research indicates.
The report from London-based financial research group Lafferty has concluded that microfinance is set to assume a [...]

‘SKS IPO proceeds will go to non-profit work’

13 Aug 2010, 0157 hrs IST,M Rajshekhar,ET Bureau
Roughly a month before the SKS Microfinance IPO, the Seattle-based charity Unitus, a large investor in the firm, unexpectedly announced it was shuttering its non-profit operations in micro-credit and laying off more than 40 employees. The decision sparked a controversy because Unitus stood to [...]

RBI final guidelines on securitization will consider implications on microfinance feedback…

August 12, 2010 1:19 AM EDT
At the Inaugural Address by Shyamala Gopinath, Deputy governor of the Reserve Bank of India at the India Securitisation Summit 2010 hosted by the National Institute of Securities Markets (NISM), August 10, 2010, Mumbai, says that RBI is examining the responses and the final guidelines for banks as [...]

Huffington Post: Poverty Group Honest About Its Work; How Rare Is That?

By Jonathan Lewis
August 12, 2010 02:55 PM
With a mournful voiceover pitching us to donate to the number on the T.V. screen, the camera pans to half-dressed little children drinking dirty water. The poverty charity reminds us about the desperate plight of the poor in their squalid villages. As human beings and as [...]

Economic Times: IFC in talks with banks, FIs to invest in clean tech projects…

11 Aug 2010, 0252 hrs IST,ET Bureau
MUMBAI: International Finance Corporation (IFC), the private sector lending arm of the World Bank, is in talks with banks and financial institutions to invest in clean technology projects.
To being with, it has disbursed $75 million to IDFC, the local infrastructure financing firm, which in turn will [...]

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