Not being able to find work after studies is not the worst nightmare for India's rural youth: most of them have experienced it. But when 21-year-old Rajagopal finished his BCom in Anatapur, Andhra Pradesh, he didn't give up hopes of finding a full-time job and go back to farming like his elder brothers. Without a fixed income, he wasn't going to be able to support his family or pay back his education loan. That's when he contacted RuralShores, a firm that had just set up a business process outsourcing (BPO) centre in Bagepalli district of Karnataka -- two hours from his home in AP.
http://economictimes.indiatimes.com/tech/ites/rural-bpos-to-become-the-next-tech-hub-with-less-employee-operating-costs-advantage/articleshow/11087971.cms

MFIs introduced as new NBFC category
December 3, 2011 I Swati Bhat I Mint

The Reserve Bank of India (RBI) on Friday approved creation of a separate category of non-banking financial companies for the MFI sector and specified that such institutions need to have a minimum net owned fund of Rs 5 crore. An RBI-appointed panel headed by Y H Malegam had earlier this year recommended setting up of a special category of NBFCs operating in the micro finance sector. The panel had suggested a minimum net worth of 15 crore for an entity to qualify as an NBFC-MFI.
http://profit.ndtv.com/News/Article/rbi-notifies-separate-nbfc-category-for-mfis-293395

Top MFIs plan to raise funds through ECBs
December 29, 2011 I Namrata Acharya I Business Standard

Cash-starved microfinance institutions (MFIs) are queueing to raise foreign currency loans in the New Year. SKS, Share, Bandhan and Ujjivan plan to raise up to $10 million each in the coming months. The Reserve Bank of India (RBI) had recently allowed MFIs to raise up to $10 million a year through external commercial borrowings (ECBs). Interestingly, MFIs plan to raise funds through ECBs, even as the rupee continues to depreciate against dollar, and the cost of raising funds abroad shoots up. The rupee depreciated close to 20 per cent in the April-December period.
http://business-standard.com/india/news/top-mfis-plan-to-raise-funds-through-ecbs/460098/

Micro-finance bodies unite under common code of conduct
December 15, 2011 I Vinson Kurian I New Delhi I The Hindu Business Line

Microfinance institutions (MFIs) in the country grouped under Sa-Dhan and MFIN have, for the first time, united for the cause of a common code of conduct. Prepared under the joint auspices of Sa-Dhan, the Association of Community Development Finance Institutions, and Microfinance Institutions Network (MFIN), the code was released in New Delhi on Tuesday. MFIN is a grouping of mainly NBFC-MFIs while the membership of Sa-Dhan is more secular in nature and open to not just any not-for-profit MFIs but NGOs as well.
http://www.thehindubusinessline.com/industry-and-economy/banking/article2713958.ece

Ujjivan Fin gets award
December 14, 2011 I Indian Express (Also featured in  indiainfoline.com )

Ujjivan Financial Services, a leading microfinance institution serving the urban poor, has received the prestigious ‘Microfinance Organisation of the year’ award in the large institutions category. The award was presented at a special function organised at the Microfinance India Summit in Delhi. Speaking on achieving this distinction, Samit Ghosh, Managing Director, Ujjivan said,”This award is the foremost recognition by the industry for the best all round performance by a microfinance institution in India.
http://www.indiainfoline.com/Markets/News/Ujjivan-Financial-Services-receives-Microfinance-Organisation-of-the-year-award/5310555558