The Indian government is planning to reintroduce a microfinance bill to Parliament that would significantly impact the regulation of the rapidly growing microfinance industry, which has reportedly been growing at almost 52 percent per year for the last three years in terms of client outreach.
SBI Mutual Fund has launched an equity-based micro-systematic investment plan, called SBI Chota-SIP. The plan, which aimed at low-income households, allows a person to invest in mutual funds with a minimum sum of Rs 100 a month.
India’s Microfinance institutions reached 76.6 million against last year’s 59 million, according to the “State of the Sector Report” released on Monday in New Delhi.Compiled by N. Srinivasan, the report was released as part of the annual Microfinance India Summit 2009.
From the global funders, there was a steady flow of funds though the investment cycles turned a little longer due to credit crisis. India Financial Inclusion Fund (IFIF), an off-shore India-focused equity fund for microfinance companies and enablers, has achieved a final close of $90 million.
The year 2009 may go down as the watershed year for the Indian microfinance industry. Marked by strong growth and pioneering deals the industry is riding high, growing at a rapid pace of 100%-200% year-on-year
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| Written by Administrator |
| Monday, 11 August 2008 06:40 |
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As BISWA has operated through branch model for its microfinance plus activities, to transfer the microfinance activities to Credible Microfinance Private Limited, the company adopted branch wise intervention process. First it takes a branch of BISWA and started lending to the SHGs those have not an active loanee client of BISWA. The rest SHGs those have outstanding in BISWA taken the time line to repay the loan fund to BISWA directly. After getting the clearance from BISWA on these clients that, they don’t have outstanding or not, CMPL will go for disbursement. Once the microfinance activities of CMPL started in those branches, BISWA stopped its lending process and only remain as promoter and continuing other social activities with the SHGs. Through this process the total microfinance activity of BISWA transfer to Credible Microfinance Private Limited. Apart from the loan product, CMPL provides other financial services to its clients like Insurance through BISWA as BISWA has corporate agent of different Insurance Companies. |
| Last Updated on Monday, 01 February 2010 12:38 |
The World Microfinance Forum Geneva organized a full day workshop for managers responsible for micro and small loan portfolios. Selected financial institutions from a developed country (Switzerland) and a developing country (Bolivia) presented their respective lending methodologies, and a moderator facilitated an exchange of experiences.
Third World (TW) development is now half a century old and coincides with a period of substantial Northern economic aid to the economies of Third World countries. Despite this assistance, TW poverty continues. This situation has been caused by several critical factors, yet current literature mainly blames the orthodox development approach, which fosters channeling foreign aid and loans through state and para-state agencies.
Nearly three billion people in developing countries have little or no access to formal financial services that can help them increase their incomes and improve their lives. Access to a range of microfinance services—savings, loans, and money transfers—enables poor families to invest in enterprises, better nutrition, improved living conditions, and the health and education of their children. It is also a powerful catalyst for women’s empowerment.