Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
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Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | SKS I.P.O. Ignites Microfinance Debate    </title>
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                            <p align="justify"><font ></font></p><p align="justify"><br /><font >An Indian company that makes tiny loans to villagers aims to raise up to $354 million in an initial public offering, a move critics fear will encourage India&rsquo;s largest microfinance lender to put shareholders above the poor it serves, The Associated Press writes.</font></p><p align="justify"><font >SKS Microfinance&rsquo;s share sale, begun Wednesday, has already drawn the ire of one of the leading lights in the field. A publicly traded company&rsquo;s traditional obligation is to make money for its shareholders, while the mission of microfinance &mdash; loans typically under $200 for starting businesses that banks won&rsquo;t make &mdash; is to lift people out of poverty.</font></p><p align="justify"><font >Some say those are irreconcilable objectives. Others argue it is possible to serve two bottom lines simultaneously, reaping both financial and societal rewards. Either way, SKS&rsquo;s I.P.O. &mdash; the first in India and the third worldwide &mdash; is likely to set a trend. Other Indian microfinance lenders are watching and waiting to see whether they too should tap capital markets.</font></p><p align="justify"><font >&rdquo;This is pushing microfinance in the loan-sharking direction,&rdquo; Muhammad Yunus, who was awarded the Nobel Peace Prize for his work at the established microfinance lender,&nbsp; Grameen Bank, told The Associated Press. &rdquo;It&rsquo;s not mission drift. It&rsquo;s endangering the whole mission.</font></p><p align="justify"><font >&rdquo;By offering an I.P.O., you are sending a message to the people buying the I.P.O. there is an exciting chance of making money out of poor people. This is an idea that is repulsive to me,&rdquo; he said. &rdquo;Microfinance is in the direction of helping the poor retain their money rather than redirecting it in the direction of rich people.&rdquo;</font></p><p align="justify"><font ></font></p>                                                           
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    <br><a href="http://dealbook.blogs.nytimes.com/2010/07/29/sks-i-p-o-sparks-microfinance-debate/?scp=5&sq=India&st=cse" class="re" target="_blank">The New York Times, 29 July, 2010, http://dealbook.blogs.nytimes.com/2010/07/29/sks-i-p-o-sparks-microfinance-debate/?scp=5&sq=India&st=cse</a><div class="clear"></div>
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                            <p align="justify"><font ></font></p><p align="justify"><br /><font >An Indian company that makes tiny loans to villagers aims to raise up to $354 million in an initial public offering, a move critics fear will encourage India&rsquo;s largest microfinance lender to put shareholders above the poor it serves, The Associated Press writes.</font></p><p align="justify"><font >SKS Microfinance&rsquo;s share sale, begun Wednesday, has already drawn the ire of one of the leading lights in the field. A publicly traded company&rsquo;s traditional obligation is to make money for its shareholders, while the mission of microfinance &mdash; loans typically under $200 for starting businesses that banks won&rsquo;t make &mdash; is to lift people out of poverty.</font></p><p align="justify"><font >Some say those are irreconcilable objectives. Others argue it is possible to serve two bottom lines simultaneously, reaping both financial and societal rewards. Either way, SKS&rsquo;s I.P.O. &mdash; the first in India and the third worldwide &mdash; is likely to set a trend. Other Indian microfinance lenders are watching and waiting to see whether they too should tap capital markets.</font></p><p align="justify"><font >&rdquo;This is pushing microfinance in the loan-sharking direction,&rdquo; Muhammad Yunus, who was awarded the Nobel Peace Prize for his work at the established microfinance lender,&nbsp; Grameen Bank, told The Associated Press. &rdquo;It&rsquo;s not mission drift. It&rsquo;s endangering the whole mission.</font></p><p align="justify"><font >&rdquo;By offering an I.P.O., you are sending a message to the people buying the I.P.O. there is an exciting chance of making money out of poor people. This is an idea that is repulsive to me,&rdquo; he said. &rdquo;Microfinance is in the direction of helping the poor retain their money rather than redirecting it in the direction of rich people.&rdquo;</font></p><p align="justify"><font ></font></p>                                                           
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    <h1 class="cat-box-title">SKS I.P.O. Ignites Microfinance Debate</h1>
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                            <p align="justify"><font ></font></p><p align="justify"><br /><font >An Indian company that makes tiny loans to villagers aims to raise up to $354 million in an initial public offering, a move critics fear will encourage India&rsquo;s largest microfinance lender to put shareholders above the poor it serves, The Associated Press writes.</font></p><p align="justify"><font >SKS Microfinance&rsquo;s share sale, begun Wednesday, has already drawn the ire of one of the leading lights in the field. A publicly traded company&rsquo;s traditional obligation is to make money for its shareholders, while the mission of microfinance &mdash; loans typically under $200 for starting businesses that banks won&rsquo;t make &mdash; is to lift people out of poverty.</font></p><p align="justify"><font >Some say those are irreconcilable objectives. Others argue it is possible to serve two bottom lines simultaneously, reaping both financial and societal rewards. Either way, SKS&rsquo;s I.P.O. &mdash; the first in India and the third worldwide &mdash; is likely to set a trend. Other Indian microfinance lenders are watching and waiting to see whether they too should tap capital markets.</font></p><p align="justify"><font >&rdquo;This is pushing microfinance in the loan-sharking direction,&rdquo; Muhammad Yunus, who was awarded the Nobel Peace Prize for his work at the established microfinance lender,&nbsp; Grameen Bank, told The Associated Press. &rdquo;It&rsquo;s not mission drift. It&rsquo;s endangering the whole mission.</font></p><p align="justify"><font >&rdquo;By offering an I.P.O., you are sending a message to the people buying the I.P.O. there is an exciting chance of making money out of poor people. This is an idea that is repulsive to me,&rdquo; he said. &rdquo;Microfinance is in the direction of helping the poor retain their money rather than redirecting it in the direction of rich people.&rdquo;</font></p><p align="justify"><font ></font></p>                                                           
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    <br><a href="http://dealbook.blogs.nytimes.com/2010/07/29/sks-i-p-o-sparks-microfinance-debate/?scp=5&sq=India&st=cse" class="re" target="_blank">The New York Times, 29 July, 2010, http://dealbook.blogs.nytimes.com/2010/07/29/sks-i-p-o-sparks-microfinance-debate/?scp=5&sq=India&st=cse</a><div class="clear"></div>
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Home हिन्दी

SKS I.P.O. Ignites Microfinance Debate

Published on Aug 2, 2010   Modified on Aug 2, 2010

An Indian company that makes tiny loans to villagers aims to raise up to $354 million in an initial public offering, a move critics fear will encourage India’s largest microfinance lender to put shareholders above the poor it serves, The Associated Press writes. SKS Microfinance’s share sale, begun Wednesday, has already drawn the ire of one of the leading lights in the field. A publicly traded company’s traditional obligation is to make money for its shareholders, while the mission of microfinance — loans typically under $200 for starting businesses that banks won’t make — is to lift people out of poverty. Some say those are irreconcilable objectives. Others argue it is possible to serve two bottom lines simultaneously, reaping both financial and societal rewards. Either way, SKS’s I.P.O. — the first in India and the third worldwide — is likely to set a trend. Other Indian microfinance lenders are watching and waiting to see whether they too should tap capital markets. ”This is pushing microfinance in the loan-sharking direction,” Muhammad Yunus, who was awarded the Nobel Peace Prize for his work at the established microfinance lender,  Grameen Bank, told The Associated Press. ”It’s not mission drift. It’s endangering the whole mission. ”By offering an I.P.O., you are sending a message to the people buying the I.P.O. there is an exciting chance of making money out of poor people. This is an idea that is repulsive to me,” he said. ”Microfinance is in the direction of helping the poor retain their money rather than redirecting it in the direction of rich people.”

The New York Times, 29 July, 2010, http://dealbook.blogs.nytimes.com/2010/07/29/sks-i-p-o-sparks-microfinance-debate/?scp=5&sq=India&st=cse

Tagged with: Poverty Microfinance

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