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MFIs must be responsible lenders: Rangarajan

Last Updated: Wednesday, August 29, 2012, 20:58

Faulting the microfinance institutions for adopting strong arm tactics, Prime Minister's Economic Advisory Council Chairman C Rangarajan Wednesday said MFIs must modify their business models and become responsible lenders.

Bourses to shift SKS, Reliance Broadcast in "T" segment trade

Last Updated: Tuesday, August 28, 2012, 18:42

After a surveillance review, the two bourses, BSE and NSE, have identified various scrips including SKS Microfinance and Reliance Broadcast Network for restricted trade category.

SKS Microfinance soars over 16%

Last Updated: Monday, August 06, 2012, 12:12

Shares of SKS Microfinance Monday soared over 16 per cent as the company's net loss narrowed down to Rs 39 crore in the quarter ended June 30.

SKS Microfinance Q1 loss at Rs 39 cr

Last Updated: Friday, August 03, 2012, 21:02

SKS's revenue from non-Andhra Pradesh states rose by 11 percent to Rs 79 crore in the first quarter of this fiscal from Rs 72 crore in the fourth quarter in previous fiscal.

RBI submits affidavit stating jurisication of AP MFI act

Last Updated: Sunday, July 29, 2012, 13:30

An Andhra Pradesh Law, said to be the root cause of the collapse of microfinance in India and the state in particular, has no jurisdiction over microfinance institutions registered as Non-Banking Financial Company (NBFC), the RBI has told the AP High Court recently.

SKS Microfinance down over 8% on BSE

Last Updated: Friday, July 13, 2012, 13:05

After opening weak, shares of the company continued to lose ground and as the trade progressed, it further shed 8.47 percent to Rs 83.20 on the BSE.

SKS Microfinance's 248 sacked employees secure jobs

Last Updated: Monday, June 25, 2012, 20:22

Reeling under a financial crisis, the non-banking finance company had cut its headcount by 1,200 in early May and closed down 78 of its branches in Andhra Pradesh.

High court suspends DRDA's order against SKS Microfinance

Last Updated: Friday, June 22, 2012, 20:47

SKS did not specify when the court passed the interim order.

SKS barred from doing business in AP's Mahabubnagar Dist

Last Updated: Saturday, June 16, 2012, 22:13

The Andhra Pradesh government has cancelled the registration of SKS Microfinance to conduct business in Mahabubnagar District in the state for not following rules.

SKS Microfinance cuts 1,200 jobs in Andhra Pradesh

Last Updated: Thursday, May 10, 2012, 23:27

Crisis-hit SKS Microfinance will slash 1,200 jobs and shut down 78 branches in Andhra Pradesh where micro lending is going through a tough patch.

SKS Microfinance tumbles to record low post Q4 results

Last Updated: Tuesday, May 08, 2012, 11:40

Shares of SKS Microfinance tanked nearly 20 percent to a record low in the morning trade on Tuesday after the company reported a loss of Rs 330 crore for the quarter ended March 31, 2012.

SKS posts Rs 330 cr loss for Jan-Mar on heavy write-offs

Last Updated: Monday, May 07, 2012, 20:19

The company allotted Rs 278 crore under provisions and write-offs in the fourth quarter of FY'12 and 1,173.5 crore for the whole fiscal due to non-collection of Andhra Pradesh dues.