Page 7 - Microfinance

Rising Covid cases may add to asset quality risks of NBFIs: Fitch

Fitch Ratings on Friday said the rising COVID cases may delay recovery in MSME and microfinance lending, and add to asset quality risks of non-banking financial institutions.

Spandana Sphoorty seeks forbearance and a waiver from its lenders

The company suffered a loss of Rs 58.87 crore in the September quarter (Q2FY22) on a sharp rise in impairments and other provisions

Micro lenders seek extension of credit guarantee scheme in Union Budget

Seek allocation of Rs 15,000 cr for FY23, of which at least 75% should be earmarked for small and mid-size MFIs

Microfinance sector sees 3x rise in disbursement value in Q1: Report

However, 1-179 days past due delinquency increased in June 2021 to 31.44%, from 13.59% in March 2021

Spandana Sphoorty probing issues at gold branches of subsidiary: Committee

Company appoints Shalabh Saxena as new MD&CEO, says it is probing IT management contract given by former executive.

Spandana Sphoorty names Bharat Financial Inclusion's Shalabh Saxena MD-CEO

This comes after the exit of Padmaja Reddy as the CEO, who was also the founder of the company

Amid Covid, diversification remains even more elusive for Bandhan Bank

Even after seven years of operations, Bandhan's concentration on micro loans remains high

MFIs' gross loan portfolio dips 1.1% to Rs 2.25 trn at Sep-end: Report

The gross loan portfolio (GLP) of microfinance lenders marginally dipped by 1.1 per cent to Rs 2,25,331 crore in the September quarter, according to a report by Sa-Dhan

What lies ahead for microfinance institutions after pandemic disruption?

During the pandemic, small businesses struggled to stay afloat. So were microfinance institutions which lend them money. As businesses are gathering momentum again, here's how the sector is doing

TMS, Ep 43: India at COP26, way ahead for MFIs, EMs in 2022, and FASTags

Is India on the wrong side of climate action with its COP26 commitment? What's the road ahead for microfinance institutions? What is FASTag and how does it work? Find the answers here

Collection efficiency for retail, SME loans improves to pre-Covid levels

Icra cites decline in fresh Covid-19 cases, accelerated vaccination and uninterrupted operations of finance and housing finance entities for the better show

CreditAccess Grameen posts 25% decline in net profit to Rs 59.7 crore

The comapnies total income increased 7.2 per cent to Rs 618.6 crore

This South Korean used his telecom biz to build a thriving fintech in India

Charlie Lee's firm True Balance leverages on its mobile phone balance checking business to assess and disburse loans with simple documentation in a matter of minutes

Subsidiary disbursed 84,000 loans without customer consent: IndusInd

Glitch at Bharat Financial Inclusion Ltd rectified immediately and independent probe will fix lapses, says IndusInd.

MFIs should not throw caution to wind for higher asset growth: RBI DG Rao

The Deputy Governor said MFIs should focus on understanding the needs of customers first and offer them adequate level of support through appropriate financial products.

Banks' microloan portfolio contracts 7% to Rs 2.36 trillion in June quarter

The quarterly decline in gross loan portfolio (GLP) was seen across all lender types, including commercial banks, finance companies

Microfinance loan portfolio rises 4.2% to Rs 2,37,369 cr as of June-end

The microfinance industry's gross loan portfolio (GLP) rose 4.2 per cent to Rs 2,37,369 crore as of June 30, 2021, compared with Rs 2,27,727 crore as of June 30, 2020, according to a MFIN report

CreditAccess Grameen sees default risk dip in 30-day bucket in August

Collection efficiency rises to 99% in August

Bandhan Bank trading at 11-month low, down 10% in a week

The stock was quoting lower for the fifth straight day, down 1.6 per cent at Rs 262.60 on the BSE in intra-day trade on Tuesday

Track up to 29-day dues in micro-loans to contain slippages: Sidbi

Advises caution amid easing of stress, evident from improved collection efficiency