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Govt starts consultations for enacting law for MFIs

Last Updated: Friday, July 25, 2014, 13:46

Government has started consultations with all stake-holders, including state governments, for enacting a law to regulate Micro Finance Institutions (MFIs) for ensuring interests of customers.

Muthoot, Manappuram surge up to 9% on RBI's draft guidelines

Last Updated: Friday, July 18, 2014, 14:00

Shares of non-banking finance companies Muthoot Finance and Manappuram Finance soared as much as 9 percent in morning trade Friday after the Reserve Bank released draft guidelines for licensing of both payments banks and small banks.

RBI accords self regulatory organisation status to MFIN

Last Updated: Wednesday, June 18, 2014, 21:37

The Reserve Bank has recognised Micro Finance Institutions Network (MFIN), the industry association for the micro-finance industry, as a self regulatory organisation for NBFC-MFIs.

MFIs should be given micro credit banking licence: Yunus

Last Updated: Wednesday, June 11, 2014, 20:24

Micro finance institutions (MFI) in India need to be given special micro credit banking licence enabling them to raise deposits for the lending requirements, Nobel Laureate and father of micro credit concept Muhammad Yunus said Wednesday.

Parliamentary panel asks to bring fresh Micro Finance Bill

Last Updated: Monday, February 17, 2014, 18:26

A Parliamentary panel has rejected the bill on micro-finance institutions (MFIs) and asked the government to bring a fresh legislation before Parliament.

MFIs delinquency rate declines 20% in Apr-Oct this fiscal

Last Updated: Monday, January 06, 2014, 17:15

Credit information company ECIS Monday said the delinquency rate of micro-finance institutions (MFIs) has declined by 20 percent between April and October 2013.

MFIN to seek RBI nod to become SRO by month-end

Last Updated: Sunday, December 15, 2013, 12:42

"We have received approval from our board and will soon apply (to become an SRO)... Maybe by the end of this month," MFIN Vice-President Chandra Shekhar Ghosh said.

MFIs to grow 30-35% for 3-years: ICRA

Last Updated: Tuesday, October 22, 2013, 22:04

Improved fund availability and significant unrealised potential are likely to help the country's micro finance institutions to grow at an annual rate of 30-35 percent over the next three years, a study said.

RBI eases priority loan eligibility norm for MFIs onlending

Last Updated: Thursday, June 27, 2013, 22:42

Bank credit for onlending by Micro Finance Institutions (MFIs) will now be eligible for categorisation as priority sector lending if at least 70 percent of loans given by MFIs is for income generating activity.

RBI not to allow MFIs to charge interest of more than 26%

Last Updated: Saturday, February 16, 2013, 14:49

The Reserve Bank of India (RBI) on Saturday said micro-finance institutions (MFIs) cannot charge interest rate of more than 26 percent.

MFIs should explore the option of tapping capital mkts:Mayaram

Last Updated: Wednesday, November 28, 2012, 22:04

Micro-finance institutions need to explore the option of raising funds from the capital market and take advantage of the government schemes for investment purposes, a top finance ministry official said Wednesday.

MFIs should follow respectful method of loan recovery: FM

Last Updated: Tuesday, November 27, 2012, 16:55

The micro-finance institutions (MFIs) need to have a code of conduct and must follow "respectful" methods for recovery of loans, Finance Minister P Chidambaram said Tuesday.