The scheme was announced by FM Nirmala Sitharaman in June as part of a Rs 6.29 lakh cr package to provide relief to various sectors affected by 2nd wave of COVID pandemic.
With nearly 70% population living in rural parts of the country and many who migrated to urban centres too facing huge pay disparity, there is little empowerment of those hailing from the interiors of the country.
Microfinance Institution Network (MFIN) on Monday said two companies have raised a total of Rs 170 crore during the COVID-19 pandemic, reflecting confidence in the sector
The Kolkata-based company, which operates in 11 "low- income" states in east, northeast and central India, will, instead, focus on raising around Rs 1,800 crore in an external round of borrowing, he said
Of the total, Non-Banking Finance Company-Microfinance Institutions (NBFC-MFIs) accounted for significant chunk.
Private sector lender IDFC Bank on Tuesday announced that it will acquire Tamil Nadu-based microfinance institution (MFI) Grama Vidiyal for an undisclosed amount in a move aimed at helping it widen its reach.
Bhubaneswar: CBI sleuths today conducted raids across 14 locations against Micro Finance Limited, one of the 44 chit fund companies under the scanner of the central investigating agency.A senior CBI official said raids were conducted
Mumbai: Introducing a new concept of niche banking in India, the Reserve Bank of India (RBI) has issued final norms for payment banks and small finance banks that would allow mobile firms and supermarket chains,
Mumbai, Nov 23: Founder and chairman of the only listed microfinance institution SKS Microfinance Vikram Akula today resigned from the board with immediate effect in the wake of huge losses suffered by the Hyderabad-based firm.The
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