A group of lenders headed by the Small Industries Development Bank of India (SIDBI), a state-owned bank, have made it compulsory for microfinance institutions (MFIs) in the country to undergo third-party assessments of their codes of conduct in order to receive loans.
Frontier Investments Group, an investment vehicle of the US-based nonprofit Accion, recently announced that it, along with Saama Capital, a venture focused investment firm in India, invested a total of USD 4 million in equity in India’s Shubham Housing Development Finance Company.
Banks across Indonesia have reportedly stated that their information technology systems will be ready to handle branchless banking by 2013 pending the issuance of authorizing regulation from Bank Indonesia (BI), the country’s central bank and financial regulator.
Globe Telecom, a telecommunications company in the Philippines, is reportedly planning on expanding its GCash mobile services to include point-of-sale (POS).
The National Bank for Agriculture and Rural Development (NABARD), an institution of the Indian government, released a report entitled “Status of Microfinance in India, 2011-12” that indicates that non-performing assets (NPAs) owed by self-help groups (SHGs) in the country were increasing and that lenders were cutting back their exposure to SHGs as a result. SHGs are village based financial intermediaries that facilitate microcredit and saving.
The Central Bank of Sri Lanka (CBSL) has reportedly floated a third draft of legislation to regulate microfinance institutions (MFIs) with the intent of ensuring financial stability in the sector.
ResponsAbility Social Investments, a for-profit Swiss fund manager, recently disbursed USD 8 million in debt to Prasac, a microfinance institution (MFI) in Cambodia.