Page 9 - Microfinance

Bandhan Bank Q4 net profit tumbles 80% to Rs 103 cr on higher provisions

Provisions and contingencies spiked by 93% to Rs 1,594 crin Q4FY21 as compared with Rs 827 cr in Q4FY20

Covid-19: MFIs to face asset quality pressures in near term, says report

The microfinance industry is likely to face asset quality pressures in the near term due to the recent surge in COVID-19 infections and localised restrictions, says a report.

Manappuram Finance looks to take MFI arm Asirwad Microfinance public

Manappuram Finance, the second largest gold loan company in the country, is toying with the idea of hiving off and taking its microfinance arm Asirwad Microfinance public within a year, a top company official said. With a loan portfolio of over Rs 5,360 crore and close to 25 lakh customers across 23 states, the Chennai-headquartered Asirvad is the fourth largest microfinance lender in the country in terms of the loan book. Founded in 2008 by S V Raja Vaidyanathan, Asirvad was taken over by Manappuram in February 2015 for Rs 48.63 crore. The V P Nandakumar-led company first bought 71 per cent stake which was later increased to 95 per cent and the rest is with the founder Vaidyanathan. Under Manappuram, Asirvad has grown leaps and bounds. From a loan book of just Rs 300 crore and a few lakh customers across 115 branches in Tamil Nadu, Kerala and Karnataka when it was bought over, the company has over 1,030 branches across 314 districts in 23 states (excluding Andhra Pradesh and ...

Microfinance loans grow 1.18% sequentially in Dec 2020: CRIF

Disbursements are rising but repayments stress remains, says the credit bureau

Adar Poonawalla-backed Svasti Microfinance to raise Rs 150 crore

This is likely to conclude by the third quarter of FY22, said Arunkumar Padmanabhan, co-founder of Svasti Micro­finance

Micro loans with over 30-day dues up to 11% in December 2020, shows data

According to MFIN, loans with over 30-day dues were at 2.51 per cent in September

Best of BS Opinion: Agenda for Stockholm+50, micro loan regulations & more

Here's a selection of Business Standard opinion pieces for the day

Why we need uniform micro loan regulations

The Election Commission must ban loan waiver poll promises by all political parties. If their hearts bleed for the poor, they can always use the party funds to pay off the lenders

How microfinance has become a central issue in Assam ahead of polls

According to experts, haphazard regulation of the MFI sector may be tantamount to throwing the baby out with the bathwater

Microfinance loan waiver talks in Assam, West Bengal may impact MFIs

Microfinance loan waiver talks in Assam and West Bengal have the potential to damage long-term prospects of the sector and affect repayment discipline of microfinance borrowers, says a report.

Best of BS Opinion: Peering into 2021, the nature of food, and more

Here's a selection of Business Standard opinion pieces for the day

Micro loans: Assam is not Andhra Pradesh

The Assam Bill is not a repeat of the 2010 Andhra Pradesh law, which almost killed the microfinance industry. Assam's share in micro lending is a fraction of what AP's was back then

Microloans: Early delinquencies jump to 15.7% in September, says CRIF

West Bengal, which retained its position as the top microfinance market as of September, had an early delinquency rate of 31.7 per cent

As green shoots emerge all across, confidence returns to IndusInd stock

Positive management outlook post Q2 results has tempted analysts to upgrade their rating

MFI credit costs to rise 6% in 2 yrs as customers delay repayments: ICRA

About 12% of customers had not repaid their dues till August end, says ratings agency.

Credit cost for MFIs to rise to 6-7% in two years as loans remain unpaid

About 12% of customers have not repaid till August end

Covid-19: Mahindra Finance expects loan recast worth Rs 6,000 crore

Out of 1.6 million customers, 100,000-150,000 accounts are likely to come up for restructuring, according to the company

HDFC Bank, Bajaj Fin and SBI Cards Q2 nos show rankling retail loan stress

Analysts at Credit Suisse expect retail loan delinquencies at 5-10 per cent for private banks and 9 - 12 per cent for NBFCs

Why some millennials can't manage money: Financial literacy low in Asia

To be sure, the privileges of investing and even holding financial assets are often impossible for many people in wealthy countries who are just trying to make ends meet

Green shoots: MFI stocks preferred rural plays in financials space

CreditAccess Grameen and Spandana Sphoorty at an advantage