Finova Capital commits $15m loans to Indian MSMEs


Finova Capital, the NBFC licensed by Reserve Bank of India, has committed loan disbursements of nearly $15 million (Rs100 crore) to the Indian micro, small and medium enterprises (MSME) sector this year, the company announced on Tuesday. Since its launch a year ago, the company has already disbursed loans worth Rs… Read more »

IFC to lend $100m to Indonesian bank BTPN

Indonesia’s Bank Tabungan Pensiunan Nasional (BTPN) will receive $100 million in loans from the International Finance Corporation (IFC), according to a filing. The loans will be used to fund the growth of BTPN’s micro, small and medium enterprises businesses (MSMEs). It will also be channeled to women borrowers. “This facility… Read more »

India: Banks led by ICICI initiate sale process for Unimark

Unimark Remedies Ltd’s lenders, led by ICICI Bank Ltd, have initiated the sale process of the debt-laden drug maker in an attempt to recover dues, according to two people familiar with the development. “The sale process has been initiated recently and has seen interest from both strategic and financial investors…. Read more »

Bank Mandiri plans to raise $379m from bond market in June

Indonesia state own lender PT Bank Mandiri Tbk (BMRI) will enter bond market by issues at least Rp5 trillion in June or July to finance the long-term loan program, said chief executive. Totally, this year the bank seeks funding around $1 billion through bond issuance and bilateral loans.

Indonesia’s Mitrausaha launches peer-to-peer lending platform Modalku

PT Mitrausaha Indonesia Group has launched a community Modalku which is facilitates peer-to-peer lending and funding platforms for borrowers and lenders. According to Reynold Wijaya, chief executive and co-founder of Modalku, he had developed the platform, as a gathering place for borrowers and financiers. “Modalku is a direct platform or borrowing market place (peer-to-peer lending/P2P) in… Read more »

India: UK’s CDC Group invests $50m Janalakshmi Financial Services

CDC Group Plc, the UK government’s development finance institution, has invested $50 million (approximately Rs.330 crore) as tier II capital in microfinance institution Janalakshmi Financial Services Pvt. Ltd. Established in 2006, Janalakshmi is present in over 170 cities across 19 states, focusing on urban poor, and has outstanding loans and… Read more »