-
A Costly Setback for SKS Microfinance?
Just as it seemed SKS Microfinance was getting back on its feet, it has received a body blow once again. It had applied for a small finance bank (SFB) licence, but while eight of the 10 entities the Reserve Bank of India (RBI) awarded these licences to were microfinance institutions (MFIs), SKS Microfinance was not one of them (See Left Out). Indeed, of the 10 leading MFIs in the country, one, Bandhan, has become a full-fledged bank, while another eight will shortly be converted into SFBs. SKS Microfinance is the only one left out.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- microfinance
-
India’s Microfinance Industry Puts Crisis Behind It, Thanks to Regulations, Diligent Borrowers
The aroma of flaming gingelly oil wafted through the air as 16 women employees of Thrissurbased Global Chips & Foods braced themselves for another long day at work. A black wooden board, hung on a recently white-washed wall, listed out their day's chores: 20 kilograms of tapioca chips and 20 kgs potato chips.
- Categories
- Uncategorized
- Region
- South Asia
-
An Underutilized Weapon Against Climate Change Risks: Maximizing the Potential of Micro-insurance
Over the past few decades, changes in climate activity have led to extreme weather events that have posed substantial threats to security and financial well-being – particularly at the bottom of the economic pyramid. As these natural disasters may become the new norm, new strategies are needed to address their impact, both during and after the events. One approach to building this resilience is through asset-based micro-insurance.
- Categories
- Environment
-
Janalakshmi, The Largest Microfinance Institution in India, Announces $210M Equity Round
Janalakshmi Financial Services Limited (“Janalakshmi”) today announced a $150 million (INR 10 billion) round of primary equity financing led by global private investment firm TPG. In addition, secondary transactions aggregating $60 million (INR 4 billion) will provide partial exits to existing investors.
- Categories
- Investing
- Region
- South Asia
-
IFC Promotes Access to Finance for SMEs in Peru With US$50 Million Loan to Mibanco
The International Finance Corporation (IFC), a member of the World Bank Group, disbursed a loan of S/.167.6 million (approximately US$50 million) to Mibanco, the largest microfinance institution in Peru and Latin America, with the aim of increasing financing to small and medium enterprises (SMEs) and low-income sectors of the population, thus helping boost job creation and economic growth.
- Categories
- Uncategorized
- Region
- Latin America
- Tags
- microfinance
-
Startups to Get $76m in Government’s Microcredit Guarantee Program in Indonesia
Creative Economy Agency (BEKRAF) has said it will distribute Rp 1 trillion ($76 million) from the government’s micro-credit guarantee program (KUR) to Indonesian startups. The loans will be provided by three of Indonesian state-owned banks – PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Negara Indonesia Tbk (BBNI), and PT Bank Mandiri Tbk (BMRI).
- Categories
- Uncategorized
- Region
- South Asia
-
IFC to Invest Up to $38M in Three Affordable Housing Finance Firms
International Finance Corporation (IFC) will invest up to $38 million in three housing finance companies in India, as the World Bank’s private-sector lending arm seeks to expand its presence in a segment that offers loans for low-cost houses.
- Categories
- Finance
- Region
- South Asia
- Tags
- housing, microfinance
-
The Most Powerful Weapon for Changing the World: How Microfinance Institutions Can Increase Access to Education
Nelson Mandela described education as the “most powerful weapon which you can use to change the world.” But how can we increase access to quality education for children and adults? The author maintains that governments and the philanthropic sector can play a role, but there's also a practical need for private financial resources to support education access.
- Categories
- Education
Subscribe to Our Weekly Newsletter, "NextBillion Notes"
Published each Wednesday, our e-newsletter features NextBillion's latest original articles, along with a selection of news, jobs, bizdev opportunities and events from our recent coverage — and regular conference ticket giveaways.
We respect your privacy. Your information is safe and will never be shared.
Don't miss out. Subscribe today.