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Micro Finance Companies - The Task Force on Supportive Policy and Regulatory Framework for Microfinance set up by NABARD in 1999 provided various recommendations. Accordingly, it was decided to exempt NBFCs which are engaged in micro financing activities, licensed under Section 8 of the Companies Act, 2013, and which do not accept public ...
In 2013-14, the Reserve Bank of India reclassified VFSPL as an NBFC-MFI. [8] In 2017-18, Village Financial Services Pvt Ltd became Village Financial Services Ltd and got its first private equity (PE) funding. In 2018-19, VFS saw its assets under management cross Rs 1,000 crore. The company has been included in academic studies of micro finance.
CreditAccess Grameen Limited (CA Grameen) is an Indian microfinance institution, headquartered in Bengaluru, which serves customers predominantly in rural areas. [5] [6] [7] The company is engaged in providing microfinance services to women from low-income households who are enrolled as members and organized in Joint Liability Groups.
Pages in category "Microfinance companies of India" The following 11 pages are in this category, out of 11 total. This list may not reflect recent changes. B.
The Reserve Bank of India has set a cap on the lending rate of microfinance institutions at 26 per cent per year and a margin cap of 12 per cent over their cost of funds. Currently, the network member organizations consist of 55 [ 3 ] of the leading non-banking financial companies and microfinance institutions, whose combined businesses ...
Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India. It is under the jurisdiction of Ministry of Finance , Government of India headquartered at Lucknow and having its offices all over the country.
The company launched its operations as a provider of individual and small business loans and savings services to urban lenders in 1990, going on to be registered as an NBFC with the RBI in 1998 and converting into an NBFC-MFI in November 2013. Founded by HP Singh who has over three decades of micro-finance experience. [citation needed]
In 2010, it became the largest microfinance institution (MFI) in the country. [4] In April 2014, Bandhan received an in-principle approval from the Reserve Bank of India (RBI) for a bank license. [5] On June 17, 2015, RBI granted the banking licence to Bandhan, making it the first microfinance institution to become a universal bank in India. [6]