Micro Finance

Hela February 22, 2019

NEW DELHI: Total gross loan portfolio of the microfinance industry stands at Rs 65,090 crore at the end of the third quarter, showing an increase of 6 per cent from the previous quarter and an annual growth of 37 per cent, according to a report by Sa-Dhan. The report is based on data provided by 124 microfinance institutions. Combined microcredit portfolio of all lenders […]

Hela February 15, 2019

The 10th Microfinance Conference of the University of Cape Coast (UCC) opened yesterday with a call on financial and educational institutions to educate the public on financial literacy to prevent them from falling prey to Ponzi schemes and making huge financial losses. The Central Regional Minister, Mr Kwamena Duncan, who made the call, stressed the […]

Hela February 15, 2019

With surging deposit base and ever-rising profits, Bandhan Bank is now facing the problem of plenty for its capital deployment. At a time when most of the top-rung scheduled commercial banks are either waiting for the government to infuse capital or are burdened with dud loans, Bandhan is witnessing a surge in deposits which grew […]

Hela February 15, 2019

Tata Trusts Chairman Ratan Tata and Assam`s Finance Minister Himanta Biswa Sarma on Sunday launched the first 28 branches of the North East Small Finance Bank (NESFB), the region`s first small bank. “If India has to grow as a prosperous place, we need to create opportunities and entrepreneurship,” Tata said at the function here. The […]

Hela February 15, 2019

The recent devastation in Kerala has posed a new challenge to the microfinance sector, particularly the niche institutions that are concentrated in select geographies. Natural calamities in southern states like severe floods in Tamil Nadu in 2015 and now in Kerala have dealt a body blow to the sector which was hit the hardest during […]

Hela February 15, 2019

Non-banking finance company Manappuram Finance Ltd Wednesday has posted a 42.15 per cent rise in its profit after tax for the third quarter ending December 31, 2018 at Rs 244.11 crore. The company had recorded Rs 171.73 crore during the same period of last year. Income from operations for the October-December 2018 quarter grew by […]

Hela February 15, 2019

Karnataka and Maharashtra have high microfinance density. KOLKATA: Anushree Jindal, daughter-in-law of JSW Group chairman Sajjan Jindal, has announced the beginning of her microfinanceventure Svamaan Financial Services with Rs 10 crore “personal family money” as seed capital. The entity has started lending last week after receiving an NBFC-MFI license from Reserve Bank of India, Anushree Jindal told ET in a telephonic interview. This makes Svamaan the […]