Posts Tagged ‘SKS microfinance’

Microfinance Focus, Feb 23, 2010: Hyderabad-based SKS Microfinance has raised Rs 100 crore by issuing Non Convertible Debentures worth Rs 50o million to insurance major Bajaj Allianz Life Insurance Company Ltd. and commercial papaers worth Rs 500 million to Religare Asset Management Company in the last three months. SKS hopes to raise Rs 5,000 million this year. SKS Microfinance has been on a fundraising exercise by ... Full story

Microfinance Focus, Feb 18, 2010: India's largest microfinance institution SKS Microfinance has denied reports that Catamaran Fund, the private equity fund of Infosys mentor N.R. Narayana Murthy, is negotiating to acquire a pre-IPO stake in the company. Speaking to Microfinance Focus in Hyderabad, SKS CEO Suresh Gurumani said, "That is a rumour. I cannot comment on it." He clarified this when sought his reaction to reports published ... Full story

Microfinance Focus, Feb 17, 2010: Vikram Akula, Chairperson and Founder of India’s largest microfinance company SKS Microfinance Pvt. Ltd., is named the Business Transformation Entrepreneur of the year. The award was announced at a function held in Mumbai on Wednesday night. Anand G. Mahindra, Vice-Chairman and Managing Director of Mahindra Group, has been named Ernst & Young Entrepreneur of the year 2009. The Lifetime Achievement ... Full story

By Nagesh Narayana Microfinance Focus, Feb 5, 2010:  Hyderabad-based SKS, India’s largest microfinance company, has chosen  desktop virtualization software SoftXpand, said a statement from MiniFrame, supplier of the software on Thursday. The implementation will be across the SKS enterprise of approximately 1,700 branches doubling their current workstation capacity to start off with in the first phase, it said. SoftXpand’s ability to convert 1 PC into 8 fully ... Full story

By Naagesh Naaraayana Microfinance Focus, Jan. 4, 2010: With more than Rs. 1,000 crore capital inflow into the microfinance sector in 2009, new avenues to raise funds have come under scrutiny of microfinance institutions to meet the demand for rapid expansion that the sector is witnessing in the last two years despite the global financial ... Full story

Microfinance Focus , Dec. 28, 2009 :Yet another significant year for the Microfinance Industry, The Sector has witnessed several important events and initiatives this year. Microfinance Focus looks back at the year 2009 and presents you with the most read stories covered by us in 2009. Best of the best: Featured Stories Is There a Microfinance Bubble in South India? By most standards, microfinance ... Full story

Microfinance Focus, Dec. 4, 2009: India's largest microfinance institution SKS Microfinance has roped in HDFC Ltd. to provide housing loans in rural areas, said media reports. The pilot project will be conducted in Andhra Pradesh and the loans will be provided to its existing borrowers with at least three years of credit history. These loans will be mainly for improving houses with shops to house income-generating ... Full story

Microfinance Focus, Nov. 28, 2009: CARE (Credit Analysis and Research Ltd.) has assigned PR1+ rating to Commercial Paper (CP) of SKS Microfinance Ltd. (SKSML) of Rs.100 crore (INR 1,000 million) having maturity of up to one year from the date of issue. Instruments with this rating would have strong capacity for timely payment of short-term debt obligations and carry lowest credit risk, said a statement ... Full story

Microfinance Focus, Nov. 23, 2009: S Dilli Raj, chief financial officer, SKS Microfinance,  launched the company’s operation in Tamil Nadu on Monday in Chennai. On the occasion, he noted that for the year 2009-10, the company had already tied up funds for Rs 2,000 crore, and another around Rs 1,300 crore will be raised. Hyderabad-based SKS Microfinance plans to raise funds mainly through capital market debt instruments. ... Full story

By Naagesh Naaraayana Microfinance Focus, Oct. 27, 2009: Will the business correspondent model work to bring the poor in remote areas of the country into the ambit of financial inclusion? First, the experiment with the no-frills accounts which the country's central bank RBI has pushed ahead faced failure. Now the BC model, which has the ability to serve the poor in rural and remote areas, has no inherent ... Full story

Microfinance Focus, Sept. 19, 2009: Social business advisory firm Intellecap, in association with microfinance equity fund Aavishkaar Goodwell, will hold SRIJAN, a microfinance and financial inclusion event in Mumbai on Dec. 8, 2009. Full story

By Naagesh, N. Microfinance Focus, Sept. 16, 2009: To provide additional financial security to potentially 50 lakh (5 million) families, SKS Microfinance, in partnership with Bajaj Allianz Life Insurance has now launched its best-selling micro-insurance project ‘Swayam Shakti Suraksha’ to cover husbands of SKS members, who are usually women. ‘Swayam Shakti Suraksha’ scheme that presently covers SKS members will be extended to cover members' husbands. The premium ... Full story