Mfis In Andhra Pradesh

• SKS Micro issues profit warning, shares plunge 8%

  The company expects to incur an operational loss of up to Rs 50 crore in the fiscal first quarter.

• Why SKS Micro shares have soared 40% in a week

  RBI hinted last week that capital adequacy and provisional norms for NBFCs could be relaxed.

• Govt tables Microfinance Bill in Lok Sabha

  The Bill gives regulatory and administrative powers over the industry and microfinance instituions (MFIs) to the Reserve Bank of India.

• Ailing MFIs hail move to bring in central law

  The crisis-ridden microfinance sector has welcomed the budgetary proposal to table the new MFI Bill

• SKS employees abetted farmer suicides, finds investigation

  An independent investigation commissioned by the company linked SKS employees to at least seven of the deaths. A second investigation commissioned by an industry umbrella group that probed the role of many microfinance companies, did not draw conclusions but pointed to SKS involvement in two more cases that ended in suicide.

• Microfinance institutions to shut shop?

  The Bill to regulate Microfinance Institutions tabled in the Andhra Pradesh assembly on Friday has upset the Microfinance institutions (MFI) network, who say their concerns have not been addressed and that may force them to shut operations in the state. "Repayment has fallen drastically and so we are not in a position to continue operations in...