South Asia.

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  • Microfinance Institutions Act soon in Parliament

    The micro financing sector in Sri Lanka is to be streamlined under a regulatory framework to prevent aid wastage, duplication of funds and corruption in the implementation of projects aimed at alleviation of poverty which is one of the prime objectives of the government. No government could solve this national issue on their own, according to microfinance experts, adding that it?s a collective responsibility of all sectors, including private, non-government and the...

    Source
    The Sunday Times Online, Sri Lanka (link opens in a new window)
    Region
    South Asia
  • Citibank India & SKS Announce USD 44 Million Rural Microfinance Program

    SKS Microfinance and Citibank today announced a USD 44 Million (Rs.1.8 Billion) groundbreaking financing program involving Citibank India purchasing loans that are originated by SKS. Representing Citibank’s increased foray into rural microfinance, the program will deliver income-generating loans of between Rs.5000 to Rs.20,000 to a population of over 200,000 unbanked customers spread across 7,000 villages in 11 States of the country by financial year 2007-08. The partnership combines SKS’...

    Source
    Citi Press Room (link opens in a new window)
    Region
    South Asia
  • Green businesses attract Rs.100 crores investment from venture capitalists

    There is a need to get a structured plan in a sustainable ecological mode to attract venture capitalists to India, said Dr. Nachiket Mor, Chairman, New Ventures India Steering Committee and Deputy Managing Director, ICICI Bank at a seminar on Emerging Business Opportunities in India and Venture Capital Finance. Dr. Mor also announced Rs.100 crore investment towards the innovation and development of green businesses in India. Th...

    Source
    NewKerala.com (link opens in a new window)
    Region
    South Asia
  • Microfinance Bill Sends Confusing Messages

    A move to review and regulate when and how microfinance providers should be allowed to accept savings deposits is picking up speed. In a bid to police the booming sector, finance minister P. Chidambaram introduced a Bill to regulate small micro-credit institutions through the National Bank for Agriculture and Rural Development (Nabard) requiring them to meet more stringent accounting standards. Continue reading ...

    Source
    Live Mint (link opens in a new window)
    Region
    South Asia
  • World Bank Study reveals $5 trillion market

    The poor have substantial purchasing power too ? purely because there are so many of them. The 4 billion people across the world, who stand at the base of the economic pyramid (BOP) have purchasing power of $5 trillion (Rs 2,25,00,000 crore) according to a new report released on Monday by the International Finance Corporation (IFC), the private sector arm of the World Bank. The report, The Next 4 Billion: Market Size and Business Strategy at the Base of the Pyramid, measures the purch...

    Source
    The Hindustan Times (link opens in a new window)
    Region
    South Asia
  • Pyramid power

    Will seamstresses in Guatemala or poor farmers in India pay $3 for a pair of reading glasses? It seems unlikely. Such people are among the three billion or so who earn only a dollar or two a day. And yet Scojo Vision, an American optical firm, is betting that they will pay that princely sum for its spectacles. The notion that only subsidies or handouts can provide the world’s poorest with essential services such as health care is wrong, says Jordan Kassalow, Scojo’s co-founder a...

    Source
    Economist (link opens in a new window)
    Region
    South Asia
  • India poised for pharmaceutical boom

    As the cost of healthcare rises worldwide, Indian pharmaceuticals have positioned themselves to take advantage. For instance, Indian drugmakers now have 75 plants approved to make drugs for the American market - the most of any nation except the United States itself. Also, like Indian IT a decade ago, pharmaceuticals are on the cusp of an outsourcing trend that could become a $3-billion-a-year industry by 2010. During a lifetime spent treating AIDS patients from Asia to the deepest reaches of Af...

    Source
    Christian Science Monitor (link opens in a new window)
    Region
    South Asia
  • ICICI Bank betting big on SME business

    The future of the SME business is very promising and ICICI Bank is ideally positioned to exploit the opportunity, Vijay Chandok, Senior General Manager (Small Enterprises Group), ICICI Bank, said here today. Many SMEs are in the investment mode to create capacities, quality processes and upgradation and modernisation of their facilities, he said, adding this constituted a huge opportunity in the segment for the country’s second largest commercial bank. &...

    Source
    Press Trust of India (link opens in a new window)
    Region
    South Asia
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