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Tag: micro

SBI relocates financial inclusion, micro market division to Delhi for better synergy with govt

SBI relocates financial inclusion, micro market division to Delhi for better synergy with govt

Finance
New Delhi: In a bid to promote financial inclusion and better coordination with the government, State Bank of India (SBI) on Friday relocated the financial inclusion and micro market (FI&MM) division from its Mumbai corporate office to the national capital. The FI&MM division takes care of 8,000 rural and semi-urban branches catering to bottom of the pyramid segment and 64,000 customer service points (CSPs) managed by business correspondents and 58,000 ATMs. Besides, the division is responsible for running all the government-sponsored schemes, including direct benefits trasfer like PM-KISAN, in coordination with various departments and ministries. According to SBI Chairman Rajnish Kumar, the focus of the Delhi-based division will be community service, financial inclusion and runn...
Repayment rising in micro loans; mixed bag for MSME, retail

Repayment rising in micro loans; mixed bag for MSME, retail

Finance
KOLKATA: Repayment collection has been on the upswing in the microfinance sector in lockstep with the stage-gated revival of business in various parts of India, raising expectations of higher cash flows and lower delinquencies for lenders than anticipated earlier, while it's mixed bag for the MSME and retail segments, people familiar with the matter said. About 25-40 per cent of microfinance borrowers have started paying back their dues at the end of May, better than April's 10-15 per cent, as borrowers exhibited improved credit discipline although they could have used the grace period allowed until August 31 by the Reserve Bank of India (RBI). Industry captains expect better June cash flows with routine office attendance resuming in the first phase of the unlocking. Ratio of retail and MS...
Govt increases loss coverage for micro loan defaults to 75% from 50% earlier

Govt increases loss coverage for micro loan defaults to 75% from 50% earlier

Finance
New Delhi: The finance ministry has increased coverage of a lender’s loss in case of loan default under the Credit Guarantee Fund for Micro Units (CGFMU) scheme to 75%, from 50% earlier. The amendment to the scheme, notified on Thursday, is aimed at incentivising lending to micro businesses which are bearing the brunt of the coronavirus outbreak and the ensuing nationwide lockdown. “It will incentivise lending institutions to give credit as their losses from defaults on loans will be protected to the extent of 75%,” said Anil Gupta, head of financial sector ratings at ICRA. The CGFMU scheme, announced in April 2016, covers micro loans up to Rs 10 lakh extended under the Pradhan Mantri Mudra Yojana. Lenders can pay a fee for the portfolio of loans they want to be covered by the guarantee, ...

Louise Thompson strips down for tantalising micro bikini bonanza

Entertainment
The Made in Chelsea babe has set her fans’ pulses racing by whipping her kit off and switching it out for a teeny bikini.Ditching the cold weather, Louise Thompson has jetted off to an exotic jungle location, but has kept the location a secret from her followers.Taking to her Instagram stories, the 28-year-old whipped her hair back and forth while posing in the white bikini.The swimwear, held up by teeny string straps, clung to Louise’s toned frame as she jumped up and down.Proving the tiny straps were strong enough to hold her assets in, Louise even worked out in the matching set.The cheeky reality TV star grinned at the camera as she flashed her impressive abs of steel.Jumping up and down, Louise whipped her wavy hair into a bun as she got down to exercise on a yoga mat....

Olivia Buckland spills out in micro bikini exposé

Entertainment
Olivia Buckland and Alex Bowen were the first ever Love Island couple to get married, when they got hitched earlier this year in a lavish Essex wedding.Now the hot duo are even talking babies, as Olivia revealed to the Mirror Alex is already getting broody, just two months after walking down the aisle.Opening up, Olivia said: “He really wants a little boy. He would literally have a child now but there’s too much we’ve got to do so I’m putting my foot down.”Continuing, the 24-year-old explained: “We’re still working our bums off and we have lots of plans for next year and places we want to travel to.”Taking a break from her busy schedule and enjoying some winter sunshine, the pair have been enjoying a getaway in Dubai.Showing that Mr Bowen is ...