Micro finance institutions: RBI concerned on monitoring deficiences
July 5th, 2012 - 5:43 am ICT by IANS
Chennai, July 4 (IANS) The Reserve Bank of India (RBI) is the regulator for micro finance institutions (MFIs) but there are concerns over whether it has the wherewithal to do ... Read more...
Posted in Business |
Bangladesh banker favours micro-finance regulation
May 9th, 2012 - 12:21 am ICT by IANS
Kolkata, May 8 (IANS) Bangladesh Bank Governor Atiur Rahman Tuesday emphasised the need for strong regulation for monitoring micro-finance institutions."We are striving to maintain the right balance of ensuring that ... Read more...
Posted in South Asia |
Nabard’s Rs.15 bn fund to help women’s self-help groups
April 14th, 2012 - 9:37 pm ICT by IANS
Mumbai, April 14 (IANS) The National Bank for Agriculture & Rural Development (Nabard) will create a Rs.15 billion fund to cater to women's Self-Help Groups in economically weaker districts in ... Read more...
Posted in Business |
Budget highlights 4
March 16th, 2012 - 1:15 pm ICT by IANS
* Infusion of Rs.15,888 crore in public sector banks, regional rural banks and NABARD in 2012-13.* Infrastructure will require Rs.50 lakh crore in 12th Plan, half of this from the private ... Read more...
Posted in Uncategorized |
Budget highlights 3
March 16th, 2012 - 1:08 pm ICT by IANS
* From 2012-13, full subsidies for providing food security; in other sectors to the extent the economy can bear this.* Hope to raise Rs.30,000 crore from disinvestments.* New equity savings scheme ... Read more...
Posted in Business |
Bharti AXA to infuse Rs.200 crore additional capital in 2012
March 5th, 2012 - 5:55 pm ICT by IANS
Kolkata, March 5 (IANS) Private sector insurer Bharti AXA General Insurance is looking at an additional Rs.200 crore capital infusion this calendar year to fund its expansion plans, a top ... Read more...
Posted in Business |
Small borrowers rely on moneylenders: Study
October 11th, 2011 - 12:52 am ICT by IANS
New Delhi, Oct 10 (IANS) Small borrowers continue to rely mainly on moneylenders,
as despite having access to savings accounts they are unable to get credit from banks, says a study.According ... Read more...
Posted in Business |
Andhra promises more jobs to youth
August 15th, 2011 - 4:08 pm ICT by IANS
Hyderabad, Aug 15 (IANS) The Andhra Pradesh government would provide 100,000 jobs to the youth, Chief Minister N. Kiran Kumar Reddy announced Monday.Addressing the main official function to ... Read more...
Posted in Politics |
RBI wants to reduce inflation to 6-7 percent
August 12th, 2011 - 10:17 pm ICT by IANS
Kolkata, Aug 12 (IANS) The Reserve Bank of India is looking at bringing down inflation to 6-7 percent in the immediate term, and to between 3-4 percent in the longer ... Read more...
Posted in Business |
Andhra proposes non-banking finance body for self-help groups
June 21st, 2011 - 11:11 pm ICT by IANS
Hyderabad, June 21 (IANS) In an attempt to protect women's self-help groups (SHGs) from exploitation by micro-finance institutions (MFIs), the Andhra Pradesh government proposes to set up a non-banking finance ... Read more...
Posted in Business |
Karnataka minister bats for micro-finance loans
June 17th, 2011 - 12:53 am ICT by IANS
Bangalore, June 16 (IANS) Karnataka's Rural Development Minister Jagdish Shettar Thursday exhorted financial institutions and banks to liberally extend micro-finance loans to the needy for rapid socio-economic development and inclusive ... Read more...
Posted in Business |
SKS Microfinance plummets 20 percent after rating downgrade
May 6th, 2011 - 5:53 pm ICT by IANS
Mumbai, May 6 (IANS) SKS Microfinance, the largest micro-finance institution in the country, fell almost 20 percent after investment banking major JP Morgan cut its target price for the scrip ... Read more...
Posted in Business |
State-run banks get Rs.6,000 crore
February 28th, 2011 - 3:42 pm ICT by IANS
New Delhi, Feb 28 (IANS) To strengthen the banking sector in India, the government Monday said it will allocate Rs.6,000 crore to public sector banks and Rs.500 crore to regional rural ... Read more...
Posted in Business |
Finance Minister promises to strengthen regional rural banks
February 28th, 2011 - 3:14 pm ICT by ANI
New Delhi, Feb 28 (ANI): Union Finance Minister Pranab Mukherjee on Monday said the regional rural banks will be strengthened to enable them to maintain a Capital to Risk Weighted Asset ... Read more...
Posted in National |
Grant more banking licenses, but have strict regime: Economic Survey
February 25th, 2011 - 6:27 pm ICT by IANS
New Delhi, Feb 25 (IANS) India's Economic Survey 2010-11, tabled by Finance Minister Pranab Mukherjee in the Lok Sabha Friday, recommended more banking licences but added that strict regulations must be ... Read more...
Posted in Business |
SBI eyeing Rs.3 lakh crore rural deposits by fiscal-end
February 6th, 2011 - 8:15 pm ICT by IANS
Kandi (West Bengal), Feb 6 (IANS) The country's largest lender State Bank of India is eyeing Rs.3 lakh crore rural deposits and Rs.1.75 lakh crore rural advances by the end of ... Read more...
Posted in Business |
Microfinance firms fear Andhra law will hurt them
December 15th, 2010 - 10:41 pm ICT by IANS
Hyderabad, Dec 15 (IANS) The Microfinance Institution Network (MFIN), a body of micro-finance companies, Wednesday expressed disappointment that the Andhra Pradesh legislative assembly passed a regulatory bill without any amendments, and feared ... Read more...
Posted in Business |
Andhra passes bill to regulate micro-finance institutions
December 15th, 2010 - 12:59 am ICT by IANS
Hyderabad, Dec 14 (IANS) The Andhra Pradesh assembly Tuesday night passed a bill to regulate micro finance institutions (MFIs) in the state.The Andhra Pradesh Micro Finance Institutions (Regulation of Money Lending) Bill, ... Read more...
Posted in Business |
Micro finance institutions must be regulated: Kaushik Basu
November 26th, 2010 - 6:51 pm ICT by IANS
New Delhi, Nov 26 (IANS) Micro finance institutions must be regulated to protect the interests of vulnerable borrowers and ensure growth of the industry, said Kaushik Basu, chief economic advisor of ... Read more...
Posted in Business |
Regulations for micro finance industry soon
November 23rd, 2010 - 9:49 pm ICT by IANS
New Delhi, Nov 23 (IANS) The government will soon introduce a bill in parliament aimed at regulating micro finance institutions, Minister of State for Finance Namo Narain Meena said Tuesday."The Department ... Read more...
Posted in Business |
Orissa panel to study micro-finance complaints
November 19th, 2010 - 6:10 pm ICT by IANS
Bhubaneswar, Nov 19 (IANS) Orissa has decided to form a panel within the next one week to examine complaints it has received against micro-finance institutions in the state, an official said Friday."The ... Read more...
Posted in Entertainment |
Micro finance has great potential, says SBI chief
October 30th, 2010 - 6:15 pm ICT by IANS
New Delhi, Oct 30 (IANS) Regulators should take steps to sort out the controversies surrounding micro finance institutions (MFI), as they play an important role in economic growth, State Bank of ... Read more...
Posted in Business |
Court declines stay on Andhra micro-finance ordinance
October 22nd, 2010 - 5:56 pm ICT by IANS
Hyderabad, Oct 22 (IANS) The Andhra Pradesh High Court Friday declined to stay an ordinance brought by the state government last week to regulate micro-finance institutions (MFIs) in the state.A division bench ... Read more...
Posted in Business |
TDP stages protest to meet Prime Minister in Hyderabad
October 19th, 2010 - 10:33 pm ICT by ANI
Hyderabad, Oct.19 (ANI): Telugu Desam Party (TDP) staged a protest here on Tuesday, demanding a meeting with the Prime Minister Dr. Manmohan Singh, who was on a day visit to the ... Read more...
Posted in National |
Ordinance issued to regulate micro finance firms in Andhra
October 15th, 2010 - 7:09 pm ICT by IANS
Hyderabad, Oct 15 (IANS) Andhra Pradesh Friday issued an ordinance to regulate micro finance institutions (MFIs) in the wake of a spate of suicides due to harassment to borrowers.Governor ESL Narasimhan gave ... Read more...
Posted in Business |
Regulations for micro-finance companies soon
October 14th, 2010 - 10:45 pm ICT by IANS
Chennai, Oct 14 (IANS) The government is working on regulations for micro-finance institutions and consultations are on with the stakeholders, a senior finance ministry official said Thursday."Regulation for financial institutions is in ... Read more...
Posted in Business |
Andhra takes measures to rein in micro-finance firms
October 14th, 2010 - 6:05 pm ICT by IANS
Hyderabad, Oct 14 (IANS) The Andhra Pradesh cabinet Thursday approved an ordinance providing for three-year sentence and Rs.1 lakh penalty for micro-finance institutions (MFIs) harassing borrowers.The cabinet held a special meeting to ... Read more...
Posted in Business |
Reliance Venture invests in Bangalore IT firm
June 14th, 2010 - 6:24 pm ICT by IANS
Mumbai, June 14 (IANS) Reliance Venture Asset Management, the private equity arm of the Anil Dhirubhai Ambani Group, said Monday it has invested in Gradatim IT Ventures, a solutions provider to ... Read more...
Posted in Business |
Reserve Bank should ensure credit flow: Industry
April 19th, 2009 - 1:29 pm ICT by IANS
New Delhi, April 19 (IANS) India's industry leaders feel the Reserve Bank of India (RBI) should focus more on pushing up sectoral credit disbursements, an industry lobby said.
According to a report prepared ... Read more...
Posted in Business |
High interest rates deterrent for micro-finance
March 31st, 2009 - 9:04 pm ICT by IANS
New Delhi, March 31 (IANS) High interest rates coupled with an uneven spread of micro-financial institutions are among the major reasons for credit still not being available to a sizable portion of ... Read more...
Posted in Business |
Indian banks are overburdened, says study
February 9th, 2009 - 4:05 pm ICT by IANS
New Delhi, Feb 9 (IANS) Indian banks are highly over-burdened, with every branch catering to a little over 16,000 individuals on an average - which is four to five times higher than ... Read more...
Posted in Uncategorized |
‘Global crisis has not affected micro-finance sector’
October 23rd, 2008 - 7:07 pm ICT by IANS
New Delhi, Oct 23 (IANS) The global financial crisis has "not yet" affected the micro-finance sector though the future is uncertain, said the founder of a global Paris-based organisation promoting micro-finance here."At ... Read more...
Posted in Business |
Smart cards, machines taking banking to poor man’s doorstep
September 24th, 2008 - 12:10 pm ICT by IANS
New Delhi, Sep 24 (IANS) A technology solutions firm promoted by, among others, ICICI Bank and the International Finance Corp (IFC) will start in India next month what are called micro deposit ... Read more...
Posted in Uncategorized |
New micro-finance project for rural households launched
July 17th, 2008 - 9:27 pm ICT by IANS
Mumbai, July 17 (IANS) Leading Indian financial institutions and a non-profit organisation Thursday launched a new micro-finance initiative that will help mentor fresh business plans and cottage enterprises for rural households. The ... Read more...
Posted in Business |
Rural poor still depend on moneylenders: RBI survey
April 17th, 2008 - 12:03 am ICT by admin
Mumbai, April 16 (IANS) A survey the Reserve Bank of India (RBI) conducted in 300 districts has revealed that people from the lowest strata of society continued to depend on local money ... Read more...
Posted in Business |