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Special Investigation Team to Probe Allegations of Misconduct Against Indian Microfinance Institutions
Government on Wednesday announced that a four-member Special Investigation Team (SIT) will probe allegations of misconduct against micro-finance institutions.
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- Uncategorized
- Region
- South Asia
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Rescuing Myanmar’s farmers from the debt trap
WHEN Myo Than was a young man, his family had 12 hectares of farmland in Dala, a rural township just across the river from Yangon, Myanmar’s biggest city. His mother sold most of it after his father died. Mr Myo Than grows rice on what’s left, but water shortages mean he reaps just one harvest each year. He borrows money from the Myanmar Agricultural Development Bank (MADB)—1.5m kyats ($1,100) this year, at an annual rate of 8%—to cover planting costs.
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- Region
- South Asia
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FICO Partners with Operation HOPE to Improve Consumer Financial Health
New alliance supports the HOPE Inside programming model, empowering consumers and uplifting communities through financial literacy.
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MoneyOnMobile plans to invest US $100 million in Mumbai startup
MoneyOnMobile, a Dallas based fintech Investment Company plans to invest about US $100 million in the Mumbai–based pre–paid mobile wallet and remittance service startup, My Mobile Payments Limited (MMPL).
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- Uncategorized
- Region
- South Asia
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Cambodian MFIs Predict Lower Earnings in Response to Rate Cap
With the interest rate cap of 18 percent in full force for all new and restructured microfinance loans after the National Bank of Cambodia (NBC) issued a populist measure to curb high interest rates, microfinance institutions (MFIs) are starting to give predictions for lower profits this year as the new lending reality takes hold.
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- South Asia
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Why Aren’t Kenyan Innovators Making Money From Their Creations?
If Daniel Njuguna were to convert every one of his innovative ideas into businesses, he would certainly be a rich man.
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- Region
- Sub-Saharan Africa
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- innovation
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Africa long way off from introducing first ‘unicorn’
Continent continues to innovate while waiting for the first US$1bn company.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Crisis Looms in Southern India’s Microfinance Sector
Trouble for the Rs 57,000-crore microfinance sector is brewing again with drought-hit Karnataka, the largest MFI market with about 14% share, emerging as the new stress point with non-payment of dues. There are repayment concerns also in some smaller pockets of Tamil Nadu, two persons familiar with the development said. As many as 20 NBFC-MFIs, including all the large ones, operate in Karnataka, which is otherwise a mature market for microfinance activity.
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- Uncategorized
- Region
- South Asia
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