Page 2 - Micro Finance

Spandana Sphoorthy, former MD Padmaja Reddy heading for truce over dues

Sources say many details yet to be worked out, and that it isn't clear if talks will lead to a comprehensive pact to end strife. Clarity expected in 10-15 days, they add

CreditAccess Grameen's loan book grows 22% in FY22; adds 500,000 customers

CreditAccess Grameen Ltd: The collection efficiency including that from arrears was 96% in March 2022.

Micro-loan securitisation volumes may see impact in Q4 due to Covid: Icra

The securitisation volumes in microfinance loans, which saw improvement in the first nine months of FY22, may witness some impact in the fourth quarter due to concerns over the third Covid-19 wave

Spandana Sphoorty posts loss of Rs 58.8 crore for September quarter

It had posted a net profit of Rs 62.95 crore in Q2FY21

MFIs seek extension of credit guarantee scheme till FY2023

The industry body said smaller MFIs are finding it difficult to mobilise additional/new investment

Assam CM Sarma rolls out second phase of micro-finance relief scheme

Assam Chief Minister Himanta Biswa Sarma on Sunday rolled out the second phase of Assam Micro Finance Institutions Relief Scheme (AMFIRS) for regular loan payers

MFIs may close FY22 with 12-15% loan growth as delinquencies fall: Report

The industry closed the first six months of the current fiscal with asset growth of only five per cent, rating agency ICRA NSE 0.06 % said in the report released on Wednesday.

Odisha-based MFI Annapurna Finance raises $ 35 mn in capital raise

Third funding round this year bring total investments to $85 mn as company enters clean energy lending.

Spandana Sphoorty Financial hits 52-week low, falls 11% in one week

The company said there will be an unavoidable delay in submission of financial results for the quarter ended September 30, 2021

Banks disburse Rs 7,500 cr under Credit Guarantee Scheme for microfinancing

The scheme was announced by Finance Minister Nirmala Sitharaman in June

Top Headlines: Direct tax mop-up zooms 85%, ICICI Venture eyes start-ups

Business Standard brings to you top news headlines on Monday

SFB loan to MFIs for on-lending to be classified as priority sector lending

The Reserve Bank of Indian has decided to allow the classification of priority sector lending for loans given by small finance banks to micro-finance institutions (MFI) for on-lending to individuals

Ugro Capital launches 'Gro Micro', aims to support 50,000 small biz by 2022

The company has a net disbursement target of Rs 2,500 crore for 2021-22

MFIN welcomes RBI move to harmonise regulations for micro finance lenders

Microfinance Institutions Network (MFIN) on Friday welcomed the Reserve Bank's decision to come out with a consultative document to harmonise regulatory framework for micro financiers.

Assam MFI Bill may hike asset-quality challenges for micro lenders: Crisil

The recently passed Micro Finance Institutions (MFI) Bill, 2020 by the Assam Assembly has the potential to increase asset quality challenges for micro lenders, according to a Crisil Ratings report.

MFIs may get activity-based norms soon, making them institution-agnostic

Meanwhile, banks are in the process of seeking clarity from the RBI whether Assam's MFI Bill will be applicable to them

Paytm raises collateral-free loan cap to Rs 5 lakh for micro lenders

The company offers collateral-free loans under its Merchant Lending Programme in Paytm for Business app

IndusInd Bank Q2 net profit dips 53.2% on higher Covid-19 provisioning

The provisions and contingencies were up by 166 per cent at Rs 1,964 crore in Q2FY21 from Rs 737 crore in Q2FY20

MFIs in India should be allowed to accept deposits from public: Yunus

Nobel laureate Muhammad Yunus said that micro-finance institutions (MFIs) in India should be allowed to accept deposits from the public

RBI guv Das chastises banks not doing enough on lending, NBFC liquidity

Relaxation likely on branch audit as Guv meets bankers