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ICRA upgrades ratings of three MFIs

Last Updated: Monday, July 01, 2013, 18:54

Rating agency ICRA has upgraded ratings of three microfinance institutions, Grameen Financial Services, Ujjivan Financial Services and Utkarsh Microfinance.

MFI delinquencies down 33% in last 6 months: Equifax

Last Updated: Wednesday, June 19, 2013, 18:14

Micro-lenders in the country, which were finding the going tough on credit quality, have witnessed a 33 percent improvement in delinquency by number of accounts, credit information company Equifax said Wednesday.

SKS Microfinance posts profit of Rs 2.7 crore

Last Updated: Wednesday, May 08, 2013, 20:27

SKS Microfinance, India's only listed micro lender, Wednesday said it made Rs 2.70 crore net profit for the fourth quarter ended March 31, 2012.

FII holding in SKS Microfinance soars to 36%

Last Updated: Sunday, April 28, 2013, 11:15

Going bullish on the country's only listed microfinance company, foreign investors have more than doubled their holding in SKS Microfinance to nearly 36 percent over the past financial year with purchase of shares worth an estimated Rs 380 crore.

RBS sells 4.62% stake in SKS Microfinance for Rs 63 cr

Last Updated: Thursday, April 25, 2013, 20:30

Royal Bank of Scotland (RBS) Thursday offloaded 4.62 percent stake in Hyderabad-based SKS Microfinance for about Rs 63.50 crore.

'Islamic microfinance market size reaches $1b'

Last Updated: Monday, April 22, 2013, 12:21

Islamic microfinance is rapidly gaining acceptance in Muslim and non-Muslim countries due to its remarkable success in poverty eradication, a leading industry official has said.

Muthoot Fincorp aims doubling MFI biz to Rs 600 cr in FY14

Last Updated: Sunday, April 21, 2013, 17:58

The diversified group, which nets its maximum income from the gold loan business, started its MFI business in April, 2010. As part of diversification and to offer more focus to the MFI business, the company had bought city-based Pancharatna Securities in January, 2012.

SKS Microfinance may raise Rs 3,000 cr next fiscal

Last Updated: Sunday, March 24, 2013, 13:37

S Dilli Raj, chief financial officer, SKS said the recent rate cut by the RBI is expected to show its effect on the borrowing rates April onwards.

SKS completes two securitisation transactions worth Rs 115 cr

Last Updated: Friday, March 22, 2013, 14:06

SKS Microfinance Ltd, India's only listed micro-lender Friday said it has completed two more securitisation transactions aggregating Rs 115 crore.

SKS plans to resume lending operations in Andhra Pradesh soon

Last Updated: Thursday, March 21, 2013, 20:33

SKS Chief Financial Officer Dill Raj said the recent Supreme Court's interim order was of great relief to them and paves way to resume operations in the state.

MFIs may challenge HC ruling; see 40 pc growth in FY'13

Last Updated: Sunday, February 24, 2013, 18:48

The MFIN is also expecting the industry to log in a healthy 40 percent growth this fiscal, after the last year's drought when the industry de-grew by a whopping 24-25 percent.

IRDA slaps Rs 50 lakh fine on SKS Microfinance

Last Updated: Wednesday, February 20, 2013, 22:15

Insurance regulator IRDA Wednesday imposed Rs 50 lakh penalty on SKS Microfinance which collected extra funds, apart from the premium, as a corporate insurance agent without proper disclosure to policy-holders.