'This debate is going on all over the world and everybody is saying that only GDP cannot estimate the real (economic) situation of a country.'
For smaller MFIs, resuming operations is more difficult because they haven't got any fresh bank credit sanctioned from their lenders.
"The company plans to come up with internet-based services for the rural market soon," Nokia Corporation President and CEO Olli-Pekka Kallasvuo told reporters in New Delhi. The company would also introduce these services in its mid-level mobile devices as well. The Finland-based company is looking at micro finance as a major initiative to increase mobile penetration in India from the current 26 per cent.
The Pradhan Mantri MUDRA Yojana can lend between Rs 50,000-Rs 10 lakh to small entrepreneurs.
Interacting with farmers in Gadak district of Karnataka, Congress general secretary Rahul Gandhi said he is opposed to blanket waiver on farm loans, as it could prove 'destructive for the system'. He called for strengthening micro-finance and credit lending systems as a remedy to farmers' problems. Gandhi stressed on rural excellence and indigenous knowledge to guide the country to a better agrarian situation. He stressed on micro-finance systems & grass-root political units.
The World Gold Council initiates micro-finance scheme to promote investments by low-income groups.
One of the factors behind the rise in securitisation deals was State Bank of India's (SBI) decision to buy portfolio worth Rs 45,000 crore from NBFCs
At the end of the day what counts is that Nabard has been rewarded with the management of another Rs 500 crore
In an effort to boost commodity trading in the country, the much-awaited amendments to the Forward Contract and Regulations Act of 1952 will happen during the Budget session of the Parliament.
Nobel Laureate and chief architect of Grameen Bank Muhammad Yunus of Bangladesh had 45-minute meeting with Congress MP Rahul Gandhi in New Delhi on Wednesday during which the two discussed micro-financing activity in Bangladesh and India.
Nobel Laureate Muhammad Yunus asked the Indian industry on Tuesday to get into micro-finance activities and the government to enable a legal framework for promotion of 'social business' in the country.
Forbes magazine has honoured Bandhan of being the world's largest micro finance institute.
A bunch of CEOs in their mid-30s and early 40s are trying to rectify the scenario where shady lending applications trap hapless borrowers with astronomically high interest rates and even bodily harm if the money was repaid. Anup Roy reports.
The Institute of Rural Management, Anand, invites applications for its Fellow Programme in Rural Management.
Stanchart's plan for 100 rural branches stuck.
Union Bank of India will bring banking services to the doorsteps of over 2.5 lakh hawkers in Mumbai by partnering with their association and FINO Fintec, a micro finance institution.
Pharmaceutical major Pfizer and World Vision India on Thursday announced a grant of Rs 1 crore (Rs 10 million) under an economic rehabilitation programme for Tsunami affected communities, which WVI will extend as micro-finance development loans.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
The government on Wednesday said the ordinance seeking to empower Reserve Bank to cut Statutory Liquidity Ratio below 25 per cent is expected to be brought in by this month-end or early February.
World Bank on Monday said it expects Indian economy to grow by 8 per cent this fiscal but asked the government to open up more sectors for foreign direct investment, encourage private sector participation and improve infrastructure.
'Steven MacQueen, who was working for the [Afghan] Ministry of Rural Development and Rehabilitation, was killed last night,' British embassy press officer Colin Ball said.
Collection dived to 75-80% in November-December from 99% after demonetisation.
The government and the Insurance Regulatory Development Authority mooted a 'micro-insurance' scheme and asked insurers to collaborate with non-governmental organisations.
Finance Minister P Chidambaram on Thursday ruled out changes in tax laws for micro-finance institutions and allowing foreign equity in the sector, but kept options open for a separate fund for them.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Other reputed firms like McKinsey, Boston Consultancy Group, PwC, Ernst & Young and KPMG had also applied for getting the mandate from Bandhan.
Mudra Bank being launched on April 8.
Sunshine Schools are looking to attract interest from members of the urban 'aspirational' class -- vegetable vendors, security guards, drivers, etc -- who cannot afford the fees charged by budget private schools.
RBI's licensing norms require a bank to bring down promoter holding to 40 % within 3 years of operation - which, for Bandhan Bank, will be by Aug 23
Demonetisation impacted the smartphone market at almost all levels, including customer demand and stock movement in distribution channels.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
The Reserve Bank on Friday set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by January.
Rural populations will get will get employment in the industrial corridors following amendments to the land acquisition bill.
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