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Microfinance Act

Jun 25, 2014 at 10:36 | Source: Moneycontrol.com
The Reserve Bank of India has permitted NBFCs to act as business correspondents (BCs) of banks. SKS Microfinance, Muthoot Finance, Manappuram Finance and Magma Fincorp shot up as much as 4-8 percent in early trade.
Oct 23, 2013 at 20:10 | Source: PTI
The Andhra Pradesh Micro finance Ordinance in October, 2010, which was made it into an Act subsequently, had crippled the activities of MFIs, including SKS, in the state.
Feb 24, 2013 at 22:20 | Source: PTI
The Microfinance Institutions Network (MFIN) has hinted at challenging the recent Andhra High Court order upholding the legality of the Andhra MFI Act in the Supreme Court, a top official of the umbrella body that has over 40 microlenders as members, has said.
Jul 29, 2012 at 15:43 | Source: PTI
An Andhra Pradesh Law, said to be the root cause of the collapse of microfinance in India and the state in particular, has no jurisdiction over microfinance institutions registered as Non-Banking Financial Company (NBFC), the RBI has told the AP High Court recently.
Jun 13, 2012 at 17:14 | Source: CNBC-TV18
PH Ravikumar, interim non-executive chairman, SKS Microfinance Ltd explains to CNBC-TV18 that the tabling of the Microfinance Bill in the Budget Session of Parliament has increased hopes of recovering the amount written off in Andhra Pradesh.
Mar 13, 2012 at 12:45 | Source: CNBC-TV18
Dili Raj, chief financial officer of SKS Microfinance tells CNBC-TV18 that there is a high probability of the MFI bill getting passed this time. Once the MFI Bill is passed, it will override the AP MFI Act, Raj says.
Dec 05, 2011 at 15:27 | Source: CNBC-TV18
The Reserve Bank of India (RBI) on Friday said it was introducing micro-finance institutions (MFIs) as a new category of non-banking finance companies. Calling it a step forward, PH Ravikumar, Interim Non-Executive Chairman of SKS Microfinance said the new guidelines will help repeal the Andhra Micro Finance Act.
Oct 13, 2011 at 20:41 | Source: CNBC-TV18
India's biggest microfinance company SKS Microfinance Limited has announced 19% of the annual salary as bonus to its managerial staff.
Jul 18, 2011 at 21:14 | Source: PTI
The Supreme Court today directed SKS Microfinance, which has challenged the special act passed by the Andhra Pradesh government to regulate micro-finance institutions in the state, to amend its affidavit.
Jul 06, 2011 at 14:29 | Source: PTI
The auditors of SKS Microfinance have identified cases of alleged cash embezzlement by some of its employees who conned the firm to the tune of Rs 1.60 crore during FY'11.
Messages on Microfinance Act »

StockChamp0
1

Platinum Member

820 Followers

SKS Microfin  

about the type of senior management I brought in. Somewhere along the road, I lost the ability to control the philosophical direction of SKS," Akula said. SKS raised more than Rs 1,600 crore from IPO in 2010 and subsequently plunged into problems after the introduction of AP Microfinance Act in 2011.

4.31 PM Dec 7th 2013

MATH86

Platinum Member

205 Followers

SKS Microfin  

.9. The passage of the micro-finance bill will help improve investor sentiment towards the sector. The state microfinance act of AP will then be nullified and that could increase collection efficiency in the company’s portfolio of loans in Andhra Pradesh.

9.37 PM Aug 27th 2012

sajadmir64

Gold Member

9 Followers

SKS Microfin  

2012 at 19:26 IN SUMMARY Institutions want amendments to the Microfinance Act 2006 that will allow them to share credit information There is a scramble for issuance of loans by microfinance institutions Credit Reference Bureau regulations are to be revised for inclusion of MFIs in the credit

7.08 PM Aug 22nd 2012

NEWS786

Platinum Member

371 Followers

SKS Microfin  

officials of microfinance institutions (MFIs). “We welcome the introduction of the MFI bill in the current session,” Mr S. Dilli Raj, Chief Financial Officer, SKS Microfinance Ltd, said. The Bill will bring much-needed regulatory clarity and help in the annulment of the Andhra Pradesh Microfinance Act

10.25 PM Mar 16th 2012

Web Messenger

Platinum Member

230001 Followers

SKS Microfin  

SKS Microfinance Ltd is likely to write off about Rs 300 crore in the next two quarters due to the Andhra Pradesh Microfinance Act.“The residual exposure at risk on Andhra Pradesh works out to Rs 337 crore after adjusting deferred tax assets and accounting for tax-breaks at future write

1.06 PM Nov 11th 2011

ln_reddy2u

Platinum Member

354 Followers

SKS Microfinance  

Businessline published in page # 8 sks scrip zooms . Sks which has badly hit by ap microfinance act put in place in october last year is now focusing on ramping up operations in non ap regions also in process of creating a seperate subsidry for non microfinance business such has gold loan after fii

7.22 PM Dec 25th 2011

josekiss

Platinum Member

736 Followers

SKS Microfin  

Stay away from this counter. Still more pain is left for SKS..... SKS Microfinance likely to write off Rs 300 cr more SKS Microfinance Ltd is likely to write off about Rs 300 crore in the next two quarters due to the Andhra Pradesh Microfinance Act...

1.00 AM Nov 14th 2011

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