. 90% of the stakes of India¶s 2nd largest carrier by passenger is with financial institues. 2.Stage set for Reliance BP deal.SBI has decided to take a tough stance against willful defaulters.BP Plc would invest $7. As of July 6th. 3.1. RIL would get access to better technology. b.Position of Kingfisher Airlines worsens. Once a company or an individual is declared as a willful defaulter the company won¶t be able to borrow money from any financial institution.2 billion to buy 30% stake in Mukesh Ambani¶s RIL(Hydrocarbon Block) Win Win for both: a. BP PLC will improve its global footprint.

33% ‡ IAF is trying to bring together a consortium of Domestic Firms to compete for 10.000 crore Rs contract to manufacture 45 MTA(Medium Transport Aircrafts). Delhi-86. Exemption from this rule if firm is engaged in activities that help in spread of Bank¶s services . The cap is of 10% of the company¶s equity or of the bank equity and reserves(whichever is lower). Literacy rates of various cities are as followsa.14% c. L &T and Tata Advanced System might participate.34% b.‡ Literacy rates in Metropolitan cities improve signalling towards a new wave of urbanisation.48% d. ‡ RBI has decided to put a cap on the bank¶s equity investments on non financial companies.96 e.Mumbai-88.Hyderabad-80.Chennai-90.Kolkata-87.

‡ Asia¶s 3rd largest economy-India-has a commercial aircraft market potential of $ 150 billion which is going to be realized in the next 20 years-Boeing Co said ‡ Good quarter for the IT industrya. Taming inflation seems to be its top priority. Cash withdrawl will caryy a charge of Rs. 20.Lending rate-6. 9.06% ‡ Indian shares fell 2nd time consecutively this season. ‡ RBI puts cap on all ATM transactions from other banks. After 5th transaction.Wipro-5% gain However Profit growth is going to be balanced by the Wage hikes in April ‡ China¶s central bank increased the Interest rate 3rd time this year.Infosys-9% gain c.Deposit rate-3. TCS share prices showed 11% gain b.56%.HCL-9% gain d. . balance enquiry will carry a charge of Rs.

‡ Quaterly results (going to be released today)expected to show how companies are dealing with high interest rates and prices. ‡ After being the Taste of India for so many years.Singapore.consider the results to reflect slow growth of the Indian economy.the butter and cheese brand of Gujarat Cooperative Milk Marketing Federation(GCMMF). ‡ ICVL(Indian Coal Venture Private Limited) is facing fresh hurdles in acquiring 24% stake in MEC coal. ‡ Blackstone Advisors India Limited has acquired a stake for Rs 150 crore. Its planning to invest $70 Million in starting new plans in UK and USA. People at the helm of the affair . is planning to cater to the tastes of the NRIs. Its necessary for ICVL to get a µGO¶ sign from NTPC since most of the coal from MEC is going to be used for NTPC¶s projects.NTPC is asking ICVL to provide a bank Guarantee against the $200 million payment. in FINO(Financial Inclusion Network and Operations ltd) betting that people in India would continue to have Online Banking Accounts . Amul. The reason being that its promoter.

Rupert Murdoch . ‡ JP Morgan¶s boss Mr James Dimon has decided to implement global expansion plans. . His plans include spending $ 1 billion in recruiting new bankers and opening up new JP Morgan offices.announced Sunday 12th July to be the last issue of µNEWS OF THE WORLD¶. FIIs in India have already invested close to $1. ‡ Foreign Investments trickle might soon become a flood. This iphone will be lighter.‡ Austrailian born Press baron . Its going to be launched in the 3rd quarter.thinner then the previous models and would support a 8 megapixel camera. ‡ Apple is planning to launch a new version of iphone.3 billion in the Indian Stock Markets.


What Is Microfinance??? ‡ Financial Services for poor and low income clients.insurance. ‡ Providers of such loans to people or solidarity who don¶t have access to banking and other related services are called MFI ‡ Services include credit.savings and money transfers .

Reasons seem to be politically motivated. ‡ Mohammad Yunus is a Bangladeshi economist and he started Grameen Bank to provide loan to the poor people of the rural areas. .‡ Noble laureate Mohammad Yunus is known as the Father of Microfinance. ‡ Mainly the poor rural women were targeted. ‡ Mohammad has been ousted as the managing Director of the bank on the pretext of age.

‡ Microcredit. .money transfers and other financial instruments.savings. ‡ Microfinance.It refers to small loans provided to unsalaried borrowers with little or no credit.Includes Microcredit.insurance .

NGOs Credit Unions Financial Cooperatives Microfinance departments of Full service banks ‡ Commercial Banks specializing in Microfinance ‡ ‡ ‡ ‡ .

‡ The controller of MFI¶s has been the State Level Legislature ‡ A new Bill Draft concerning the Control Over MFIs has been released. If accepted in its entirety it would take the control outside the purview of the state legislative. .

‡ On basis of return of equity invested by the shareholders MFIs are less profitable .‡ Some MFIs are still non profitable. 3/5th of the MFIs are working profitably. ‡ If one considers private MFIs. Relative Profit‡ Considering the return on assets the MFIs are more profitable then commercial banks.

. ‡ Many suicides took place in certain places like Andhra Pradesh due to coercive measures taken by the MFIs to recover the Loan amount which has discredited the MFIs ‡ Quarter of the MFIs are present in Andhra Pradesh.‡ Stringent laws imposed by the state governments to protect the interest of the people. Strict regulations of the Govt led to bad loans .

‡ A new Bill Draft Has been introduced by the Government which transfers majority of the power in controlling MFIs to the RBI. ‡ Bill proposes the setting up of the Microfinance Development Council which will propose policies and programs to benefit this sector. ‡ Bill proposes the setting up of Microfinance development fund that would provideLoans Refinance Seed capital to these MFIs . ‡ The bill offers more clarity to the Future of India¶s $20.000 microlending sector.

The Bill is in tune with the recommendations made by the Malegam Committee. 1. .2 year tenure necessary for all loans above 15000 rs.Interest rate of 26% 2.

Sign up to vote on this title
UsefulNot useful