Vikram Akula of SKS Microfinance Touts Mobile Banking as the Future of Microfinance

In a recent interview with IndiaKnowledge@Wharton, Vikram Akula of SKS Microfinance touted mobile banking (conventionally used for “performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone” as the future of microfinance, but cited India’s regulatory environment as a significant limiting factor in expanding mobile banking networks (click here [...]

[TC-I Changemaker]: CGAP’s Gautam Ivatury on the linkage between technology and financial empowerment of the poor

The ThinkChange India staff is committed to providing our readers with interviews with people we believe are at the brink of something special but have for the most part been overlooked by the mainstream media. Readers will be able to see other conversations under our TC-I Changemakers tab.
This week, Vinay sat down (over the phone) [...]

Op-Ed: Should SKS Microfinance go Public?

A recent article on www.sramanamitra.com postulates that SKS Microfinance, which offers “several microfinance options to the poor in India for a variety of businesses from agriculture and livestock purchase to basket weaving and photography,” and has to date “provided over $550 million in microcredit,” will most likely follow Compartamos’ model and go public. According [...]

Wrap it Up: Two Papers reviewed by Microcapital.org

Microcapital.org reviewed two recently released papers this week; here is a summary of those.
1. “Should Access to Credit Be a Right?” by Marek Hudon
This is a very interesting question as fields like microfinance have gained so much popularity and success. The paper takes both practical and normative approaches to this issue and frames the overall [...]

Evening News Feed

Clearly Reservations in India is making big news after the landmark Supreme Court Judgement on reservations. Atanu Dey has a great (but long) analysis of reservations in the Indian Education System (Part 1 of a multi-part series). If you want to learn more, I also recommend this for a detailed history of affirmative-action in India

Doug [...]

Vikram Akula, founder of SKS Microfinance, to speak at CGAP, Washington, DC today

The Consultative Group to Assist the Poor (CGAP) is hosting Vikram Akula, founder and CEO of microfinance institution SKS Microfinance today as part of their informal brown bag series. RSVP to cgap@worldbank.org, or call the CGAP offices at 202-473-9594 for more information. The CGAP offices are on the third floor of 900 19th [...]

Harvard Business School - ACCION Program on Strategic Leadership for Microfinance

Are you the senior executive of a “retail microfinance institution, banking institution, or other organization interested in microfinance”?  Are you an “industry-related policy-maker or investor”?  Are you looking for ways to:

succeed in highly competitive financial sectors
balance a social focus in a commercial setting
reach new business segments
evolve products and delivery channels

If you answered yes to these [...]

SIMFLEX: MFI Financial Statements Made Simple and Flexible

According to Microcapital.org, Sheer Intelligence, an American technology consulting and software firm, recently launched an “online product for the creation of financial statements by microfinance institutions (MFIs)” called SIMFLEX. This product is especially relevant in light of a recent report released by the Center for the Study of Financial Innovation, which found that “management [...]

Evening Edition

Microfinance:

The Annual Policy Conference on Microfinance was held last week “to streamline India’s mircrofinance infrastructure, facilitating sustainability to support the Indian microfinance sector’s current rate of growth and provide for future growth rates.”

Accion International announced that it reached 3 million clients through 25 countries and 35 partner organizations.
Lok Capital LLC, an India focused microfinance [...]

Microfinance and Wall Street

Is microfinance compatible with large scale investing houses like Wall Street banks? A conversation with Susan Davis of BRAC and Rod Dubitsky of Credit Suisse discussed this question in a recent article in Forbes Magazine. The article highlighted two fundamental differences between an MFI and a commerical bank
Two key distinctions between MFIs and other commercial [...]

Midday Newsfeed

Some titillating headlines:
Microfinance:

Whole Planet Foundation (WPF), a Whole Foods Market nonprofit that “empowers individuals in the global community through entrepreneurship” recently announced the creation of the Whole Planet Foundation Supplier Alliance for Microcredit (WPFSAM), a coalition of natural foods companies that aims to support the financial endeavours of WPF. The WPFSAM Alliance has pledged [...]

India’s first Social Capital Exchange to be launched (I’m serious!)

According to story today on Business Standard, M-Cril, the credit rating agency is launching a platform called ‘Capital Connect’ which will enable MFIs and social enterprises to access capital from investors looking to make investments in this space. This is seen as early precursor to a equity exchange for ’social investments’ - in other words [...]

Guest Post: Investing & Handholding – The Aavishkaar Goodwell Way

Editors Note: Guest Blogger Keyzom Ngodup works with Intellecap, a pioneering social venture capital firm focused on making double bottom-line investments in India.  In addition to capital and investment support, Intellecap is unque that they also provide a range of support services that enable social ventures to move from start-up stage into growth mode. You [...]

Global Financial Institutions and Microfinance: A Promising Marriage?

The intent of the microfinance movement has been to build “financial systems that work for the poor majority.”  The involvement of international financial institutions undoubtedly enhances this cause, enabling the poor to better access financial services.
As it turns out, ING Microfinance Support has just released a follow-up report entitled, “A Billion to Gain? - The Next Phase:  A Study on [...]

Evening Edition

For your reading pleasure:

Government and Inflation: After meeting with the Cabinet Committee on Prices, PM Manmohan Singh announced a multitude of measures to rein in inflation. In related news, rising prices could deal a significant blow to the US-India nuclear agreement due to the potential for political fallout.
Microfinance: VC Circle reports that Lok [...]