microfinance institutions

microfinance institutions (MFIs) would grow at an annual pace of 30%-35% over the next three years on the back of improved fund availability, ratings agency ICRA has said.

SKS Microfinance, the largest microfinance institution (MFI) in India, on Friday said that its balance sheet was healthy and did not resort to any emergency funding, as Orissa, following Andhra Pradesh, said it would look into the MFI's business processes in the state. It also said, through a release, that it was confident that "the regulation will actually strengthen the industry and benefit well funded, ethical lenders like SKS."

The worse seems to be far from over for India’s largest microfinance player, SKS Microfinance.

Axis Bank has officially denied market reports of bidding for a controlling stake in CreditAccess Grameen. The bank clarified in a stock exchange filing that it has neither submitted nor plans to submit any bid for the microfinance lender. This statement follows earlier reports suggesting Axis Bank was in the race to acquire the promoter's stake.

A report from microfinance institutions Network (MFIN), the Self Regulatory Organisation (SRO) of the RBI regulated NBFC MFIs shows increased outreach of the NBFC-MFIs across India.

microfinance institutions (MFIs) saw their collection efficiency drop below 70%, as borrowers in both rural and urban areas defaulted on repayments, either due to loss of business or an indirect impact of the coronavirus pandemic.

The ASSOCHAM and Micro Finance Institutions Network (MFIN) have urged early passage of the microfinance institutions (Development and Regulation) Bill.

Banks that restructured Rs 7,200 crore of debt to microfinance institutions are staring at a possible write off as several of these institutions are finding it difficult to recover loans in Andhra Pradesh.

The Association of Karnataka Microfinance Institute, Microfinance Institute and Microfinance Association have clarified that the Debt Relief Act, 2018 does not apply to microfinance institutions.

icrofinance loans in the country grew by nearly 11 per cent to Rs 71,916 crore during the second quarter of the current fiscal, industry data showed.Microfinance loans worth Rs 64,899 crore were disbursed during the same period a year ago.

Bangalore-based Bandhan and six other Indian institutes have figured in Forbes' first-ever list of World's Top 50 microfinance institutions.

microfinance institutions have made loans accessible to the poor. The power tussle at SKS has brought the sector under scanner. While these cos are known to charge high interest rates, some are allegedly using strong-arm tactics to recover dues

Non-AP microfinance institutions in India are exhibiting signs of recovery despite national level MFI sector data painting a gloomy picture, says a report put out by microfinance institutions Network

Economic adviser to the prime minister, Raghuram Rajan, has said that corporates should not be granted banking licences and preference should be given to other players in the finance sector such as non-banking finance companies and microfinance institutions.

Seeking to rein in microfinance institutions (MFIs), the Andhra Pradesh government on Thursday approved a special ordinance for the purpose and sent it for the governor's assent.

Over 70,000 microfinance accounts in Haveri district have become NPAs due to defaults, resulting in recovery challenges. This has impacted legitimate borrowers and caused some microfinance institutions to cease operations. Authorities are urged to protect institutions adhering to RBI guidelines amidst rising defaults and financial illiteracy.

Banks have prepared a blueprint for restructuring loans to microfinance institutions (MFIs).

Mumbai, Aug 28 () More than 60 per cent microfinance institutions have gone cashless for loan disbursals in their bid to improve operational efficiency, says an industry report.

Small loan specialists in India that typically cater to people without bank accounts are facing a jump in pandemic-related defaults that could force some of them out of business, industry experts warn.

The microfinance sector in Uttar Pradesh has seen a huge growth over the years, both in terms of loan disbursement and customer base. This is likely due to the coronavirus pandemic and its after effects. The RBI appointed a self-regulatory organization for microfinance institutions, Sadhan, and they reported that loans amounting to Rs. 10905 crore were disbursed in the fiscal year 202122, compared to the previous fiscal year. The sector recorded huge disbursement growth as the value of total loans in 202021 was Rs. 6226 crore. Inaugurating a conclave on microfinance sector in Uttar Pradesh on Tuesday, Regional Director, RBI, Lucknow, Dr. Balu Kenchappa said, "Up has been one of the frontrunners in efforts for financial inclusion in the country. The private sector financial institutions have helped in creating a recovery culture in the country and the credit goes to microfinance sector." Executive Director and CEO of Sadhan, Jiji Mammen said, "Home to 24 crore people Uttar Pradesh has huge potential for microfinance sector. There are 57 microfinance institutions in the state out of which 18 have their headquarters in Uttar Pradesh." Experts say that from a customer base