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MFIs plan to raise Rs 20,000 crore over next 18 months

Microfinance institutions in the country plan to raise incremental capital of around Rs 20,000 crore over the next 18 months, an industry association official announced here today.

Stakeholders' meet to discuss setting up Mudra Bank on March 25

Finance Ministry has called the first meeting of all stakeholders, including MSME and microfinance institutions, on March 25 for discussing formalisation of structure of the Rs 20,000-crore Mudra Bank.

Crisil sees 35% growth for MFIs, loan-book at Rs 45K-cr by FY15

The microfinance sector is likely to see buoyant growth in the medium-term and assets are set to reach Rs 45,000 crore by March 2016, says a report.

ICRA upgrades ratings of three MFIs

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

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.

MFIs must be responsible lenders: Rangarajan

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.

MFIs to be allowed to raise fund through ECB: RBI

The RBI said it will soon allow microfinance institutions to raise funds up to USD 10 million through ECBs.