Microfinance News - Latest Updates & Headlines
ICRA flags rising risks in unsecured securitised pools; collections of microfinance dropped to 90% in Q3 FY25
New Delhi, March 13: The collection efficiency trend for unsecured asset classes, such as microfinance loans, personal loans and unsecured SME loans, has seen weakening performance in the last few months, rating agency ICRA said on Thursday.
Muthoot Microfin shares hit 52-week low, fall over 45 pc in six months
Mumbai, March 11: Muthoot Microfin Limited's stock continued its downward trend on Tuesday, hitting a new 52-week low of Rs 123.65 in the intra-day trading session.
After strict regulations in 2023 & 2024, RBI's Policy shift boosts Banking Sector, eases regulations: Report
New Delhi, February 28: After a period of strict regulations in 2023 and 2024, the Reserve Bank of India (RBI) has now shifted its stance, benefiting the banking sector in a significant way, according to a report by CLSA Research.
RBIs new governor adopting a more consultative approach in decision making: Nuvama
New Delhi, February 27: The Reserve Bank of India (RBI) has adopted a more consultative approach under its new Governor, as reflected in its recent decision to roll back the increase in risk weightage on loans to Non-Banking Financial Companies (NBFCs) and Microfinance Institutions (MFIs), according to a report by Nuvama Research.
Microfinance menace: Unregistered firms to face heat in K'taka
Bengaluru, Feb 13: With the implementation of the Karnataka Microloan and Small Loan (Prohibition of Coercive Measures) Ordinance, 2025, the microfinancing institutions (MFIs) operating without license will face the heat as the new law proposes punishment of up to 10 years and a fine of up to Rs 5 lakh.
Law to curb Microfinance harassment to come into effect soon: Karnataka CM Siddaramaiah
Bengaluru, February 13: Karnataka Chief Minister Siddaramaiah on Wednesday announced that the state government will soon implement an ordinance to prevent microfinance companies from harassing borrowers, adding that the ordinance has received the Governor's approval.
'Those harassed will receive greater protection': Siddaramaiah on microfinance menace
Bengaluru, Feb 12: Following Governor Thaawarchand Gehlot's approving the Ordinance promulgated to contain microfinancing institutions (MFIs), Karnataka Chief Minister Siddaramaiah stated on Wednesday that the law comes into effect with immediate effect.
Governor Thawar Chand Gehlot clears Karnataka microfinance ordinance
Bengaluru, February 12: Karnataka Governor Thawar Chand Gehlot signed the ordinance regarding the microfinance rules that the Karnataka government recently decided on at a Cabinet meeting, the chief minister's office said Wednesday.
Karnataka Governor approves ordinance aimed to tackle microfinance menace
Bengaluru, Feb 12: Karnataka Governor Thaawarchand Gehlot on Wednesday approved the ordinance promulgated by the Congress-led government to tackle the Microfinancing Institutions' (MFIs) menace.
Karnataka Governor rejects ordinance aimed to tackle microfinance menace
Bengaluru, Feb 7: Karnataka Governor Thaawarchand Gehlot has rejected the ordinance promulgated by the Congress-led government to tackle the Microfinancing Institutions' (MFIs) menace.
Microfinancing harassment: Ready to incorporate suggestions by Guv, says K'taka govt
Bengaluru, Feb 5: The Congress-led Karnataka government on Wednesday said that it is ready to incorporate suggestions made by Governor Thaawarchand Gehlot in connection with the Ordinance promulgated by the state government to tackle the high-handedness of microfinancing institutions (MFIs) in the state resulting in suicides and desertion of people in rural areas.
Ordinance to end torture of the poor by microfinance companies: DK Shivakumar
Bengaluru, February 3: Karnataka Deputy Chief Minister DK Shivakumar on Monday said that the government has planned an ordinance to stop the exploitation of the poor by microfinance companies in the name of loan recovery.
Microfinance firms using rowdies to threaten people, their activities will be curbed: K'taka Dy CM
Bengaluru, Feb 3: The Congress government in Karnataka stated on Monday that microfinance companies are using rowdies to harass and threaten people, and their activities will be curbed.
Finance minister to meet NBFCs on March 8 to discuss key issues and greater participation of NBFCs in financial services
New Delhi, January 31: The Ministry of Finance on Friday stated that a full-day conclave for Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) will be held on March 8, 2025, in New Delhi.
Don't end lives; file plaints as govt is with you: K'taka CM assures people of action against microfinance firms
Mysuru (Karnataka), Jan 31: Karnataka Chief Minister Siddaramaiah on Friday assured people of action against microfinance companies and urged them to file complaints against the firms if their representatives harass them.
K'taka govt to implement stronger law against microfinance menace
Bengaluru, Jan 30: Karnataka government on Thursday conveyed the second high-level meeting on issues faced by the public due to the highhandedness of microfinance institutions.
Microfinance menace: K'taka CM says govt committed to protecting interest of borrowers
Bengaluru, Jan 25: Karnataka Chief Minister Siddaramaiah on Saturday held a high-level meeting on the issues faced by the public due to microfinance institutions.
A Step-by-Step Guide to Borrowing Money in Sri Lanka
Colombo, Jan 24: Life is erratic, and occasionally sudden financial crises develop. Having rapid cash available might really save lives in such times.
K'taka govt giving free hand to microfinance companies: Kumaraswamy
Mysuru (Karnataka), Jan 24: Union Minister for Heavy Industries and Steel, H.D. Kumaraswamy lashed out at the Karnataka government, saying, “On one hand, the government claims to empower women by giving them Rs 2,000 under the Gruha Lakshmi scheme.
Large Indian NBFIs poised to outperform amid economic and regulatory challenges: Fitch Ratings
New Delhi, January 24: India's large non-bank financial institutions (NBFIs) are better positioned to weather economic and regulatory challenges compared to their smaller counterparts, according to Fitch Ratings.
Karnataka: Woman sends Mangalsutra to HM Parameshwara, seeks justice for husband
Raichur, Jan 23: The wife of a man who committed suicide has sent her mangalsutra to Home Minister G. Parameshwara on Thursday, demanding action against the staff of a microfinance company who allegedly drove her husband to take his own life.
Finance Dept must act on unlicensed microfinance companies: K'taka Home Minister
Tumakuru, Jan 22: Karnataka Home Minister G. Parameshwara said on Wednesday that the Finance Department must act against the microfinance companies operating without licenses in the state.
Small Finance Banks' growth to moderate to 18-20 pc in FY2025: Report
Mumbai, January 14: After experiencing robust growth in FY2023 and FY2024, small finance banks (SFBs) are likely to see a moderation in growth to 18-20 per cent in FY2025, down from 24 per cent in FY2024, according to ICRA.
Indian Micro Finance sector grows by over 2,100% in 12 yrs
New Delhi, January 9: The business of Micro Finance Institutions (MFIs) industry has risen from Rs 17,264 crores in March'12 to Rs. 3.93 lakh crore as of November'24, M Nagaraju, Secretary, DFS, Ministry of Finance was apprised by the industry representatives during a meeting in New Delhi.As per the MFI stateholders, the industry has grown more than 2176 per cent over 12 years.
RBI allows Asirvad, DMI Finance to resume lending operations
Mumbai, Jan 8: The Reserve Bank has lifted its ban on the 'sanction and disbursal of loans' by Asirvad Micro Finance and DMI Finance Pvt Ltd, in a big relief to the two microfinance companies, according to an RBI circular issued on Wednesday.