Posts Tagged ‘RBI’

Microfinance Focus, Oct 29, 2010: The Sub-Committee of the Reserve Bank’s Central Board of Directors which is chaired by Y H Malegam will examine the prevalent practices of MFIs in regard to interest rates, lending and recovery practices to identify trends that impinge on borrowers’ interests. The Sub-Committee was set up after the Board’s October meeting to study ... Full story

Microfinance Focus, Oct 20, 2010: Yezdi H Malegam, a long-standing member of RBI’s central board and a chartered accountant has been appointed by the Reserve Bank of India to head a sub-committee to study concerns in the micro-finance sector. The committee is expected to submit its report in three months. According to media reports, the sub-committee would be conducting a study of concerns about high interest ... Full story

Microfinance Focus, September 30, 2010: For extending banking services to the underserved, the Reserve Bank of India (RBI) has decided to permit banks to engage for-profit companies registered under the Indian Companies Act, 1956, excluding Non Banking Financial Companies (NBFCs), as Business Correspondents (BCs) in addition to the entities permitted earlier. RBI has earlier placed a discussion paper on engagement of ‘for profit’ companies as BCs ... Full story

By P N Vasudevan, Managing Director, Equitas Editorial Note: The Reserve Bank of India released a Discussion Paper on “Entry of New Banks in the Private Sector” last month. The paper invited views/comments of banks, non-banking financial institutions, industrial houses, other institutions and the public at large. Suggestions and comments are invited on the following aspects delineated in the Discussion Paper Minimum capital requirements for ... Full story

Microfinance Focus, Sep 8, 2010: A Reserve Bank of India committee in its draft report has recommended that the priority sector status, which is accorded now to banks’ exposure to Non-Banking Finance Companies, or NBFCs, which also include microfinance institutions, should be withdrawn according to a report published in Economic Times. The committee is headed by executive director VK Sharma. To ensure a non-disruptive, and orderly, ... Full story

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