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India: IFC to provide up to $20m debt to RGVN Microfinance
IFC (International Finance Corporation), a member of the World Bank Group, will provide up to $20 million to RGVN (North East) Microfinance Ltd in the form of a senior debt investment, according to an IFC disclosure.
- Categories
- Impact Assessment, Investing
- Region
- South Asia
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Indian MFI group to refuse loans to defaulters of any member firm
A lobby group of microlenders on Tuesday decided to disallow loans for new applicants who have previously defaulted on repaying any other lender.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Has the Indian Government’s Microloan Scheme Been Successful?
The government’s micro loan scheme, going by the moniker Pradhan Mantri Mudra Yojana, has disbursed Rs1.53 trillion worth of loans so far in 2016-17, which represents a 15.04% growth from the previous fiscal year. Recall that in fiscal year 2016 (FY16), when the scheme was first implemented, disbursements had exceeded the target specified by that year’s budget.
- Categories
- Uncategorized
- Region
- South Asia
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Cambodian MFIs relax stance on rates cap
Microfinance institutions will not object to an 18 percent cap on interest rates which comes into effect on April 1, a senior official from the Cambodia Microfinance Association said. Association president Hout Ieng Tong said yesterday they would not seek a rise in the rate because the government had considered the issue thoroughly before ordering the cap.
- Categories
- Uncategorized
- Region
- South Asia
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Economy & Nation Defaults rising in MFI loan book post demonetisation
Post demonetisation, the delinquencies in microfinance institutions (MFI) loan books are rising. Ratings agency ICRA recently downgraded its outlook on two prominent MFIs to negative from stable, mainly due to limited currency supply and disruption in borrower cash flows, which hampered overall the collection efficiency of these lenders
- Categories
- Technology
- Region
- South Asia
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Asian Development Bank and Credit Access Asia Sign $32 Million Deal to Improve Financial Inclusion in Asia
The Asian Development Bank signed a €30 million ($32 million) equity investment agreement with CreditAccess Asia, a holding company headquartered in Amsterdam, that operates microfinance institutions across Asia, currently serving approximately 1.8 million customers, 99.8% of whom are women.
- Categories
- Investing
- Region
- South Asia
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Social Business Roundup: The Problem with Sachets, the Beauty of Rats and the Dark Side of Cross-Selling
Everyone seems to love the products in individually-sized sachets being sold at the BoP ... except for Mother Nature. Ethiopia's only too happy to roll out the welcome mat for some rats with amazing TB-sniffing skills. A questionable cross-selling strategy in South Africa harms a vulnerable population and raises uncomfortable questions about financial inclusion. It's all part of our weekly Social Business Roundup.
- Categories
- Environment, Health Care, Social Enterprise, Technology
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Viewpoint: Cambodia’s interest rate cap will hurt rural families
On March 13, the National Bank of Cambodia announced a major new policy. Starting April 1, all microfinance institution operating in Cambodia will be required to lend at interest rates no higher than 18 percent per year. This is a deeply misguided regulation that will undo over a decade’s worth of successful financial policies.
- Categories
- Uncategorized
- Region
- South Asia
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