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- RBI deliberating to appoint Corporates and NBFCs as BCs (9 August 2010)
RBI is exploring at the prospects to appoint Corporate and NBFCs in the role of business correspondents, in order to achieve financial inclusion. RBI disclosed this in its discussion paper for engagement of \'for profit\' companies as business correspondents (BCs) and has asked for comments/feedback by August 20, 2010. ...
- Grama Vidiyal Micro Finance sets target of 70% growth (6 August 2010)
Grama Vidiyal Micro Finance (GVMFL), Tamil Nadu based MFI has set target of a 70% growth in its portfolio in the FY 2010-11. Its CMD, Sh. S Devaraj has disclosed that once it reaches a portfolio size of Rs 2,500 crore, it would consider going for its IPO. ...
- SPANDANA could be the next MFI to offer IPO (6 August 2010)
With the SKS having achieved a successful performance of its IPO, it was expected that other MFIs too would come up with the same. The spectacular performance of SKS IPO has reinforced the belief of investors in poor women as best borrowers. ...
- Ujjivan starts its operations in Haryana (5 August 2010)
Ujjivan a Bangalore based NBFC-MFI has started its operations in Haryana with five branches Rohtak, Jind, Hissar, Bhiwani & Bahadurgarh cities. Now Ujjivan has its operations in 18 states having around 278 branches. ...
- Early closure of QIBs set to rise (5 August 2010)
With the successful performance of IPOs of both Engineers India and SKS Microfinance, most public and private sector issuers are likely to close the bidding for qualified institutional buyers (QIBs) a day earlier in public issues. ...
- Business Correspondents open most accounts in AP (4 August 2010)
The maximum number of new accounts have opened in Andhra Pradesh by Business Correspondents, emerging as an effective tool to achieve financial inclusion. Out of the 7.5 million new accounts opened in the country, about 75% of these are in Andhra Pradesh. ...
- SKS IPO is subscribed 13.69 times (4 August 2010)
Despite concerns over the IPO being priced on the higher side, the SKS IPO has been oversubscribed 13.69 times on its closing. The company’s high asset quality and uniqueness lured the investors. The company has very good margin and low delinquency ratio. ...
- Unitus Equity Fund likely to sell part of its stake in SKS (3 August 2010)
Unitus Equity Fund which is a privately-funded microfinance investment fund affiliated to Unitus Inc., a US based NGO is expected to reduce its stake in SKS in the coming week by selling 1 mn shares during the period the SKS IPO opens. ...
- IFC to buy 20% stake in Ananya (3 August 2010)
International Finance Corporation (IFC) which is the investment arm of World Bank has disclosed plans to buy a 20% stake Ananya Finance, a newly formed NBFC based in Ahmedabad -based Ananya Finance. Ananya is going to raise about Rs 150 crore in equity and IFC has proposed to invest upto Rs. 50 crores for this 20% stake. ...
- Press release on NABARD (2 August 2010)
NABARD has disbursed a bank loan of Rs. 3732.33 crore to 581 MFIs during 2008-09. Also as on 31.3.2009 the loan outstanding was at Rs. 5009.09 crore against 1915 MFIs. These loans have been lent to the poor by the MFIs. ...
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