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Viewpoint: Mudra Bank Is Just What India’s Microfinance Sector Needed
Mudra Bank can provide some cohesion and impetus to this fragmented space, besides the right kind of regulation.
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- Uncategorized
- Region
- South Asia
- Tags
- microfinance
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Kenya Shuts Down Somali Remittance Firms, Freezes Accounts
Kenya has suspended the licences of 13 Somali remittance firms following the massacre at a Kenyan university last week, Somalia's central bank governor said on Wednesday, and Kenyan media reported that dozens of bank accounts had been frozen.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- remittances
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Study: Only 2.8 Percent of Nigerian Adults Have Microfinance Accounts
Despite the huge numbers of Microfinance Banks, MFBs, operating in the country and regulatory authorities’ efforts to use them as channels for financial inclusion, investigations have confirmed that only 2.6 million of the adult population had MFB accounts.
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- Uncategorized
- Region
- Sub-Saharan Africa
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India’s Push for Banks for All Leaves Some Still Outside
Firozaben, a nurse at an upscale clinic here, opened an account at the state-owned Bank of Baroda Ltd. in December, attracted by the promise of an overdraft provision and accident- and life-insurance policies—all for no fee, courtesy of a government program to bring India’s masses into the banking system.
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- Uncategorized
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- South Asia
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Making it Easier to Go Digital: Lowering barriers to entry for pro-poor financial institutions in Uganda
In December 2014 Airtel Uganda launched a mobile banking service to allow bank customers to access their accounts through mobile money agents. These services allow pro-poor financial institutions to reach rural Ugandans, but forging these digital connections is complex. In the third post in their series on what it takes for microfinance institutions to go digital, Grameen Foundation explores ways to overcome this complexity.
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Prime Minister Modi Launches MUDRA Bank, Expected to Benefit 5.77 crore Microfinance Institutions in India
Prime Minister Narendra Modi on Wednesday launched MUDRA Bank under Pradhan Mantri Jan Dhan Yojana. This will provide credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for 'Micro-Finance Institutions' (MFIs).
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- Uncategorized
- Region
- South Asia
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- microfinance
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Papua New Guinea Commits to Digitising All Government Payments
The Government of Papua New Guinea (PNG) has joined the Better Than Cash Alliance with endorsements from Minister for Finance, James Marape and Minister for Treasury, Patrick Pruaitch.
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- Uncategorized
- Tags
- digital payments
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Financial Planning Lessons From Indian Prime Minister Narendra Modi
That Narendra Modi is a skilful orator is not news, but to hear him in person and to see him use ground-level common sense to drive home financial lessons to an auditorium full of bankers is quite an experience. The venue was the 80th birthday party of the Reserve Bank of India (RBI) at the National Centre for Performing Arts in Mumbai. And in case you were wondering, as I did, as to why celebrate 80 years rather than the global norm of 75 or 100, Modi said that 80 years is special to Indians because it marks the sahastra darshan or the 1,000 viewings of the full moon by a person who turns 80.
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- Uncategorized
- Region
- South Asia
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