Posts Tagged ‘RBI’

Microfinance Focus, Aug 5, 2010: The Reserve Bank (RBI) of India has recently released a discussion paper on ‘Engagement of for-profit companies as Business correspondents’ evaluating the prospects of allowing non-banking financial companies, specially the microfinance companies to act as business correspondents of banks. The paper highlights the observations made by the Committee on Financial Inclusion under Dr C. Rangarajan, which said that NBFCs engaged in ... Full story

Microfinance Focus, July, 30, 2010: Matrix Financial Consultants, is a Mumbai based investment banking firm offering debt syndication, equity placement and financial restructuring to an array of clients from industries such as microfinance, power, hotels and pharmaceuticals. It recently raised INR 10 crore of long term debt for Future Financial Services Ltd (FFSL) from a leading ... Full story

Microfinance Focus, July 5, 2010: Microfinance News Synopsis brings a compilation of industry headlines broadcasted by other news media from across the world. MFIN to appoint four regional ombudsmen: The Microfinance Institutions Network (MFIN), which has 39 members, would appoint four regional ombudsmen within three months to oversee good governance in the sector, according to MFIN president and Basix chairman Vijay Mahajan. Speaking to the media ... Full story

Microfinance Focus, June 23, 2010: In an exclusive interview with Microfinance Focus, President of  Unitus Capital, Eric Savage suggested that the microfinance industry will be seeing more of consolidations in the future. “As the companies will grow older I think more people will be looking for strategic opportunities and we will slowly see more mergers and acquisition in the market” he said. The phenomenal growth of ... Full story

Microfinance Focus, June 23, 2010: Speaking on the panel of MCCM, Meenal Madhukar, IFMR said, “Guidelines on securitization if put into action can have a negative impact on Microfinance sector. The IFMR team along with others are making presentations to central bank to address the issue." Drawing attention to the fact that microfinance being a small sector was not taken into account when the guidelines were drafted. ... Full story

Microfinance Focus, June 12, 2010: Microfinance News Synopsis brings a compilation of industry headlines broadcasted by other news media from across the world. RBI asks banks to put in place UID-compatible financial plans: Reserve Bank of India (RBI) has asked all the domestic commercial banks to draw up a financial inclusion plan, duly approved by the bank’s board for rolling out in the next three years. ... Full story

Microfinance Focus, June 8, 2010: Microfinance News Synopsis brings a compilation of industry headlines broadcasted by other news media from across the world. IBM launches microfinance IT service platform in Peru: The conditions for investment and growth in Peru prompted IBM to develop a center to provide microfinance services in this South American country. Jaime Garcia Echecopar announced IBM's entrance into the microfinance sector. Jaime Garcia ... Full story

Microfinance Focus, June 3, 2010: Microfinance News Synopsis brings a compilation of industry headlines broadcasted by other news media from across the world. RBI pushes financial inclusion: To give a boost to the financial inclusion drive started by the banks, the Reserve Bank of India (RBI) has constituted four working groups that will help identify issues and suggest probable solutions in different areas of operations. The ... Full story

Microfinance Focus, May 21, 2010: Dr K C Chakrabarty, Deputy Governor, Reserve Bank of India has today released the India Micro Small and Medium Enterprises Report 2010 of Institute of Small Enterprises and Development (ISED) at Kochi, India. While addressing the gathering Dr. Chakrabarty discussed the present status of Bank Credit for MSMEs and the way forward. “If India has to have a growth ... Full story

By Nagesh Narayana Microfinance Focus, Feb 26, 2010: Presenting the Union Budget 2010-11 to parliament on Friday, India's Finance Minister has reiterated the UPA government's commitment to expanding financial inclusion and expanding the microfinance programmes, by doubling allocation to Micro-Finance Development and Equity Fund to Rs. 400 crore (INR 4,000 million). He has also increased allocation by Rs 100 crore (INR 1,000 million) each to the Financial ... Full story

Microfinance Focus, Dec. 05, 2009: Mobile phone as an instrument for conduct of financial transactions and the immense potential it has in the process of financial inclusion and financial growth is well recognized.  We all agree that the benefits of M-Commerce should reach the common man at the remotest locations in the country, said Dr. K.C.Chakrabarty, Deputy Governor, Reserve Bank of India at the India ... Full story

Microfinance Focus, Nov. 30, 2009 :Opening a no frills account is by itself not financial inclusion but it is just the beginning. Financial inclusion is a much broader term which can be construed as the process of ensuring fair, timely and adequate access to financial services, said Dr. K.C.Chakrabarty, Deputy Governor, Reserve Bank of India at the launch of Federal Ashwas Trust in Kochi, Kerala ... Full story

By Matthew Fuchs Microfinance Focus, Nov. 18, 2009: Umbrella organsiations at the state-level would help make Urban Cooperative Banks (UCB) sector "strong and vibrant", said a report published by the Reserve Bank of India (RBI) on Tuesday. The report presents the findings of a Working Group formed by the RBI in July 2008 to determine whether there is a need for State-level umbrella organisations for UCBs, ... Full story

Microfinance Focus, Nov. 11, 2009: Reserve Bank of India’s Deputy Governor Ms. Shyamala Gopinath recently said the rural banking and microfinance, infrastructure finance and broader regulatory approach for financial sector are precisely the issues which need to be addressed to achieve balanced and sustainable growth over the long term for emerging ... Full story