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March 4, 2013
India: Microinsurance norms to be out soon
Microinsurance regulations for India are soon set to be launched. These regulations provide a framework within which insurers will be able to offer products to low income consumers in rural and urban areas. Read more here.
March 4, 2013
India: RBI rejects plea to remove 26 per cent lending cap on interest rates
The Central Bank in India – the Reserve Bank of India has refused to remove a 26 per cent cap on interest rates for lending from microfinance institutions. According to the deputy governor KC Chakravarty, MFIs will stop getting bank loans with priority sector tag if this cap is removed. […]
March 4, 2013
Nepal: Governor asks microfinance firms to revise rates
Responding to the crisis of high interest rates, the Central Bank governor in Nepal has called upon microfinance institutions to reduce interest rates. He compared the behaviour of the microfinance institutions to that of moneylenders. Read more here.
March 4, 2013
India: Financial inclusion a must for new banks
The Central Bank of India has decided that applicants for new bank licences will have to ensure that out of every 100 loans that they disburse, 40 must go to priority sector including education, agriculture and low cost home loans, by lending to students, small farmers and low cost home […]
March 4, 2013
Somalia: Pioneering microfinance services in Somalia
Silatech in Somalia, and American Refugee Committee are collaborating with Kaah Express, one of the largest money transfer businesses serving Somalis worldwide, to launch a new microfinance services programme which will include enterprise credit and savings accounts. Priority will be given to low income youth and women with a focus […]
March 4, 2013
VisionFund celebrates a decade of existence
International non-profit for microfinance, VisionFund will be celebrating its 10th year of existence this year. It will celebrate this by publishing throughout the year, profiles of some of its successful microfinance clients across the world. Read more here.
March 4, 2013
Rural microfinance services for one million women in Sudan
IFAD, or the International Fund for Agricultural Development has recently provided an amount of US$925,000 to the existing Agricultural Bank of Sudan Microfinance Initiative (ABSUMI). This fund will be used to improve the lives of as many as 150,000 households through a variety of both agricultural and non-agricultural investments. Read […]
March 4, 2013
Bahrain: Tamkeen and Family Bank sign
Family Bank in Bahrain, together with Tamkeen (Labour Fund) has signed an agreement wherein US$2.65 million, or BHD 1 million will be added to the microfinance portfolio of Family Bank’s Microfinance Support Scheme. Read more here.
March 4, 2013
Microfinance software provider Mambu secures US$2 million Series A funding to expand globally
Berlin based company, Mambu has received US$2 million in funding from Runa Capital and Point Nine Capital. This fund will be used to establish a global presence and expand its team of developers. So far, Mambu has enabled over 70 MFIs in 20 countries. Read more here.
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Interactive SHG Map of India: 7.5 million Women Self Help Groups are spread across 27 States and 6 UTs in India
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