Posts Tagged ‘AP Microfinance ordinance’

By Dr. Oliver Schmidt, Academic Advisor Microfinance, Mountains of the Moon University Microfinance Focus, Oct 26, 2010: The essence of capitalism is wealth creation from assets. Microfinance offers low income households to capitalize on their assets. Government, however, is mostly not concerned about wealth creation from assets. It is concerned about bureaucratic power. Such power as an end itself, or as an alternative means to create ... Full story

Microfinance Focus, Oct. 23, 2010 : A year ago, Microfinance Focus Senior Analyst, Daniel Rozas, published an article raising a warning flag about a developing bubble in Andhra Pradesh.  Rozas wrote: “The spark that sets off a large-scale delinquency crisis can be anything and could come at any time – a rapid drop in economic growth, a populist political movement, a religious decree, or ... Full story

Microfinance Focus, Oct 22, 2010: The Andhra Pradesh microfinance ordinance was issued for protecting the Women Self Help Groups (SHGs) form exploitation by the microfinance institutions through usurious interest rates and coercive means of recovery. The ordinance is being viewed by SHGs’ promoters as an opportunity to control the rampant growth of MFIs and they are already gearing up to launch it as a countrywide ... Full story

Microfinance Focus, Oct 22, 2010: The Andhra Pradesh Police on Friday has arrested three people working with SKS Microfinance and Spandana on a complaint of harassment by a borrower, and might book the companies' respective promoters Vikram Akula and Padmaja Reddy under a new Ordinance to check coercive methods of loan recovery, according to a Press Trust of India report. The borrower, Ammulu, filed ... Full story

Microfinance Focus, Oct 22, 2010: The Andhra Pradesh High Court has given an interim relief to microfinance institutions in the state by permitting them to carry on their lending and recovery operations till they get registered with the district authorities. MFIs are however directed to apply for registration within seven days time frame. “The honourable judges have given a relief to MFIs to carry on their ... Full story