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Reaching out to the poor

Ujjivan is now almost a decade-old microfinance institution. How has been the journey so far and what growth path it’s chalking going forward?

As an organisation, we’ve been in the business of providing financial services to urban, semi-urban and rural poor since November 2005. This year marks our eighth full year of operations. Ujjivan has grown steadily after it completed its pilot project in Bangalore in 2007 and expanded its footprint across 24 states and Union territories serving over 1.5 million customers through 404 branches. Every year, we make an effort to improve on the benchmarks we set the previous year.

We are glad to be counted among India’s leading...

LITTLE ROCK, AR – Every year around this time students on most college campuses are anxiously awaiting their financial aid refunds.

Im normally depending on it, you know I have a lot of extra bills I have to pay, says Kayron Strickland.

Kayron Strickland a Junior at Pulaski Technical College says she was expecting her financial aid to hit her account today, but it didnt due to a computer system failure.

We feel if they have a system issue to come and advise the students, says Strickland.

Lavonne Juhl, Financial Aid Director says it wasnt just Strickland but more than 700 students who did not receive aid.

We are still working with our software provider...

Nene sees South Africa’s growth at 1.8%

South Africas budget-deficit targets are at risk with economic growth expected to slow this year to 1.8 percent, Finance Minister Nhlanhla Nene said.

The projection may be cut from 2.7 percent estimated in February because the environment has been challenging with strikes and supply-side constraints particularly on the energy side, Nene, 55, said in an interview yesterday at Bloombergs Johannesburg office. The growth outlook may improve going forward, he said.

Marking his third month in the post after being promoted by President Jacob Zuma, Nene gave a detailed assessment of the outlook for Africas second-largest economy less than two months before official estimates are due to be published....

Fitch Rates Dryden 34 Senior Loan Fund/LLC

CHICAGO–(BUSINESS WIRE)–Fitch Ratings assigns the following ratings to Dryden 34 Senior Loan
Fund/LLC (Dryden 34):

–$409,500,000 Class A Notes AAAsf; Outlook Stable.

Fitch does not rate the class B, C, D, E, F or subordinated notes.

TRANSACTION SUMMARY

Dryden 34 Senior Loan Fund and Dryden 34 Senior Loan Fund, LLC
(together, Dryden 34, or the issuer) is an arbitrage cash flow
collateralized loan obligation (CLO) that will be managed by Prudential
Investment Management, Inc. (Prudential). Net proceeds from the issuance
of the secured and subordinated...

DUBLIN–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/research/f7wqct/unsecured_loans)
has announced the addition of the Unsecured
Loans to Business in the UK – Key Trends and Opportunities up to 2018
report to their offering.

The lending to business industry is beginning to stabilize following the
recession. The lending to business industry in the UK has recorded
little signs of growth since 2011, but has somewhat stabilized since the
financial crisis. Net lending to non-financial businesses declined by
GBP109.5 billion from 2008 to 2009,...

The incredibly high cost of Americans’ financial stupidity

We’ve all heard the saying, there’s a sucker born every minute.

Well, what if I were to tell you that this is a gross underestimate? According to the Department of Human Health and Services, there are about 7.6 Americans born every minute, and there’s good evidence that about five of them will grow up to be suckers when it comes to financial literacy.

The University of Michigan’s Health and Retirement Study found that only about one third of Americans ages 50 and older were able to correctly answer three simple questions about how compound interest works, what inflation means for one’s savings and investment gains, and the basic differences between...

Financial expert: Start holiday shopping now

Financial experts say thats a good thing.

While it might get on your nerves to hear Christmas music in September, money advisors say take advantage of it. Dont wait until Black Friday. Make your Christmas Wish list now. Financial planners say youll likely stick to a budget and not make last minute purchases.

The holiday shopping season is the most important season for retailers – making up about 20% of their yearly sales, so stores are eager to move the season earlier and earlier.

Its not a bad thing they start it earlier. If you start buying early, you can spread it out over paychecks. If you wait until the last week before Christmas, and you spend $20 bucks...

How Immigrants Can Lay Down Canadian Credit Roots

Canada is a country that is proud of its multiculturalism. It was built on the backs of immigrants — some who arrived a century ago, and some who arrived last year. People come to Canada with hopes and dreams of a better life full of financial prosperity — but sometimes it can be hard to get there.

Financial systems vary from country to country and a huge obstacle facing new Canadians is that many of them simply dont understand how finances work in the Great White North. Last year, an RBC Poll showed that 60 per cent of new Canadians felt they lacked financial knowledge, including how to establish and build credit during their first year living in Canada.

If you dont...

Its easy to look at celebrities and envy their glamorous, filthy-rich lifestyles. One thing most celebrities seem to have in common, however, is that they are all popular targets for money scams. When you rake in millions of dollars each year, it can be hard to find a financial manager who doesnt want to take a big cut of that — with or without their permission.

Here are the top nine celebrities who have sued their financial managers for mismanaging and stealing funds.
1. Sting

In 1995, Keith Moore, Stings financial advisor of 15 years, was finally caught for swindling Sting out of $9.8 million. Moore had set up 100 different financial accounts for the singer, carefully...

‘Demand for finance is particularly strong among the growing band of so-called “threshold” businesses that have turnovers of between £500,000 and £1 million and are on the cusp of becoming established companies.

‘Twice as many threshold businesses attempted to raise finance in the past 12 months and 68 per cent of them needed capital to grow, compared with 41 per cent of other types of SMEs.’

The report also reveals a sharp fall in the number of businesses seeking credit to fund working capital, from 32 per cent in 2013 to 24 per cent this year.
More than a quarter of firms raised finance over the past year to develop their businesses and an additional...