Equity mutual funds witnessed a net inflow of over Rs 10,000 crore in May, making it the third consecutive monthly infusion. This is a 14-month high i.e. highest since March 2020. This was way higher than Rs 3,437 crore net inflow seen in April and Rs 9,115 crore in March, data from the Association of Mutual Funds in India showed on Wednesday. Prior to this, equity schemes had consistently witnessed outflow for eight straight months from July 2020 to February 2021. On the other hand, investors pulled out Rs 44,512 crore from debt mutual funds last month after infusing over Rs 1 lakh crore in April. Overall, the mutual fund industry witnessed an outflow of Rs 38,602 across all segments during the period under review, compared to an inflow of Rs 92,906 crore in April.
Fusion Microfinance raises 10 million euro in debt from BIB
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The capital will help the Delhi-based MFI to on-lend to women borrowers from low-income households, increasing their access to finance.
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Northern Arc Capital facilitated the deal.
KOLKATA: Fusion Microfinance has raised 10 million euro (about Rs 88 crore in local currency) in debt from Bank im Bistum Essen (BIB), a Germany-based cooperative bank.
It s BIB s first ever debt funding in India as the overseas firm looks to be a part of India s microfinance story, which is facing challenges as income generation takes a hit among the weaker section of the population amid a raging second wave of the covid pandemic.
Maintain business resilience, manage risks wisely: RBI Guv tells NBFCs
Das advised the NBFCs and MFIs to pay focussed attention to strict adherence to fair practices code, improve customer grievance redress mechanism and strengthen their IT systems
BusinessToday.In | May 3, 2021 | Updated 18:14 IST
Reserve Bank of India Governor Shaktikanta Das urged non-banking financial companies (NBFCs) and microfinance institutions (MFIs) to stay true to supervisory expectations regarding maintaining their business resilience and managing risks prudently. Talking to managing directors and chief executive officers of select NFCs and MFIs, he acknowledged their role in providing credit to grassroot level.
Das advised the NBFCs and MFIs to pay focussed attention to strict adherence to fair practices code, improve customer grievance redress mechanism and strengthen their IT systems in the interest of the institutions and their customers , RBI said in a statement on Monday.
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