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February 19, 2013
IRDA plans to revisit micro-insurance product regulations
The Insurance Regulatory and Development Authority is considering revisiting the norms that exist for the poor in accessing microinsurance policies. New moves will make it easier for the underserved to access insurance covers. Read more here
February 19, 2013
Ghana: Microinsurance day marked in Accra
In collaboration with the German International Corporation (GIZ), Ghana recently launched a new regulatory regime for micro insurance, under its National Insurance Commission (NIC).
February 19, 2013
India: Fututre Generali India insurance collaborated with Zoom Developers for microinsurance in Himachal Pradesh
Future Generali India Insurance in India is tying up with a Service Centre Agency, Zoom Developers to distribute its range of microinsurance products in the underserved state of Himachal Pradesh in India. Through this initiative, some 100,000 households are being targeted. Read more here.
February 19, 2013
Suryoday Microfinance of India raises US$200 million from Lok Capital, Aavishkaar, HDFC
Suryoday Micro Finance Private Limited, an India based microfinance company, in a bid to expand operations and increase its customer base raised US$200 million from a number of sources. The sources included Lok Capital, Aavishkaar, and an India based housing finance company, HDFC. Read more here.
February 19, 2013
India: SKS Microfinance completes A1+(SO) rated securitization transactions worth US$72.4 million
The only listed MFI in India, SKS Microfinance recently concluded securitization transactions, achieving A1+(SO) rating, signifying ‘highest security’ by one of the leading rating agencies. Read more here. According to CEO and managing director of SKS, the worst is over for the company. They conceded that the larger than life […]
February 19, 2013
New MFI opened for the underserved in Nepal
A new microfinance organization called the Vijaya Laghubitta Bittiya Sanstha (VLBS) was recently established in Nepal, with four of its branch offices in districts of Myagdi, Baglung, Parbat and Lamjung. The MFI will be working while embracing the state adopted policy of using microfinance primarily as a poverty alleviation tool. […]
February 19, 2013
Microfinance in Bihar, India turn prostitutes into businesswomen
A number of women are in the trade of prostitution in small towns in Bihar because their mothers and grandmothers have been in this trade. For these women, taking a loan from traditional financial sources is impossible as no one will stand as their guarantor. Dreaming of a life free […]
February 19, 2013
India: Microfinance companies operating in Bhopal, without RBI’s consent
In a case that highlights fallacies in regulations and control, a number of microfinance institutions in Vidisha in India have been operating with RBI approval. Read more here.
February 19, 2013
Microfinance’s reach reduces by 13 million poor in 2011
According to a new report “Vulnerability: The State of the Microcredit Summit Campaign Report 2013”, some 13 million fewer poor people in 2011 had access to microcredit and other financial services, as compared to 2010. Read more here. According to estimates, this drop has been led by drop in microfinance […]
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