MICRO LOANS
Budget 2024: For micro, small & medium cos, a major funding boost The upcoming budget may introduce a scheme to address credit gaps for MSMEs, potentially exceeding ₹10,000 crore. Interventions could include interest subvention and credit guarantees. The aim is to enhance credit access for the sector and promote g...
10 Jul, 2024, 05.30 AM ISTBudget 2024: MSME ministry seeks additional ₹5,000 crore for job generation scheme Budget 2024: The government subsidizes a percentage of the loan amount for self-employment ventures, with applicants required to contribute towards the project cost. Despite the high demand, the budget allocation for PMEGP in the current year is low...
02 Jul, 2024, 10.38 AM ISTESAF Small Finance Bank creates micro banking vertical with 5,200 staff ESAF Small Finance Bank has absorbed 5,200 employees from ESAF Swasraya Multi-State Agro Co-operative Society Ltd (ESMACO) as part of a strategic business restructuring. The bank will now directly manage the microloan portfolio, which was previously...
01 Jul, 2024, 09.07 PM IST- ADVERTISEMENT
Aye Finance raises $30 million in debt from Dutch development bank FMO is the Dutch entrepreneurial development bank, with a mission to empower entrepreneurs to build a better world. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investin...
18 Jun, 2024, 06.16 PM ISTNBFC-MFIs largest provider of micro-credit: Report NBFC-MFIs and scheduled banks dominate micro-credit disbursal in India, with NBFC-MFIs leading. The gross loan portfolio for micro-credit reached Rs 4.33 lakh crore by March 31, 2024.
12 Jun, 2024, 08.25 PM ISTMicrofinance market expands by a fourth in FY24 with asset quality showing significant improvement The microfinance market expanded by a fourth in FY24 with asset quality showing significant improvement. The sector's gross loan portfolio grew 24.5% year-on-year to Rs 4.34 lakh crore at the end of March. The bad loan ratio fell to 7.9% from 8.6% a...
10 Jun, 2024, 05.35 PM ISTTargeting to hit milestone of Rs 20,000 cr loan book in 8-10 quarters: Shachindra Nath If you look at this, the regulatory intent or the policy intent that the entire banking credit, 40% of average net banking credit should be in the priority sector. As we all know the banking sector, while in recent past the priority sector lending f...
10 Jun, 2024, 03.28 PM ISTRBI cautions micro finance lenders against usurious interest rates The Reserve Bank of India (RBI) has warned lenders, particularly in the microfinance sector, against charging "usurious" interest rates by exploiting the regulator's freedom. While most lenders follow guidelines on the Key Facts Statement (KFS), som...
08 Jun, 2024, 09.36 AM ISTAadhar Housing Finance aims 20% AUM growth in FY25 Aadhar, 76% owned by Blackstone Group Company BCP Topco VII Pte, has a robust asset quality with gross non-performing assets being at just a tad over 1% at the end of March. That compares with 1.16% a year ago.
31 May, 2024, 08.11 PM ISTMuthoot Finance's AUM grows 25% to Rs 89,079 cr in FY24 Muthoot Finance's consolidated assets under management surged 25% YoY to Rs. 89,079 crores in FY24, with a 22% YoY increase in profit after tax to Rs. 4,468 crores. The chairman emphasized a pivot towards non-gold loan growth and digital strategies,...
31 May, 2024, 02.00 PM ISTBanks' credit growth in FY25 to slow down to 14% on lower GDP uptick, RBI measures: Crisil Crisil forecasts a 2 percentage point drop in the banking system's credit growth to 14% for the fiscal year 2024-25, citing factors such as lower GDP growth, RBI measures like higher risk weights on unsecured loans, and a high base effect. Slower de...
28 May, 2024, 01.44 PM ISTFusion MicroFinance to raise $25 mn from DFC Fusion MicroFinance is raising $25 million from the US International Development Finance Corporation (DFC) for growth capital, following a $20 million loan facility. The micro loan lender has already received $20 million from DFC. Fusion, founded in...
17 May, 2024, 01.04 PM ISTL&T Finance aims at 25% CAGR, retail lending in focus L&T Finance Ltd aims for a 25% compound annual growth rate (CAGR) in the coming years, focusing on strengthening its retail lending business. The financial services arm of Larsen & Toubro plans to exit the wholesale segment entirely by 2026, becomin...
15 May, 2024, 07.33 PM ISTOver 514 million jobs created during 2014-2024 The report is based on 80 case studies covering borrowers who took multiple loans and data of various government schemes.
14 May, 2024, 12.23 AM IST514 million person years of employment generated in 10 years of the Modi govt: SKOCH A SKOCH study of 12 central schemes, including the Mahatma Gandhi National Rural Employment Guarantee scheme, the Atmanirbhar Bharat Rozgar Yojana, the Pradhan Mantri Grameen Awas Yojana and the Pradhan Mantri Grameen Sadak Yojana, among others show...
13 May, 2024, 06.56 PM IST51.40 crore person-years employment generated during 2014-24: SKOCH Report A recent SKOCH report revealed that between 2014 and 2024, the Modi government regime generated 51.40 crore person years of employment. The report, titled "Employment Generative Impact of ModiNomics: The Paradigm Shifts," is based on 80 case studies...
13 May, 2024, 04.11 PM ISTBandhan Bank in talks to raise $250-million debt from IFC The Kolkata-based lender is now targeting to grow home loan business along with other retail loans while reducing the share of micro loans, which has been a major stress point for it since Covid-19. The bank had a stress pool of Rs 7,500 crore, larg...
09 May, 2024, 10.16 PM ISTFusion MicroFinance Q4 results: Net profit up 16% to Rs 133 crore Fusion MicroFinance Q4 results: “We closed a very successful FY24 with the highest ever profit after tax, consistent growth in AUM, healthy return ratios and overall robust operational and financial metrics," managing director Devesh Sachdev was quo...
07 May, 2024, 01.15 PM ISTBelstar Microfin files papers for Rs 1,300-crore IPO The company is a NBFC-MFI (non-banking finance company - micro finance institution) offering loan products, such as micro enterprise, small enterprise, consumer goods, festival, education and emergency loans, and focuses on the lending model of 'sel...
07 May, 2024, 05.56 AM ISTMuthoot Microfin announces foray in Telangana Muthoot Microfin, a part of Muthoot Pappachan Group, provides financial assistance through income-generating microloans to women engaged in small businesses such as tailoring, vegetable vending and running tea-shop, among others. The lender has 3.28...
16 Mar, 2024, 01.08 AM IST