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OPINION: Why RBI’s decision on a Post Bank of India is a slap for Finance Ministry
The RBI’s decision on Wednesday to “consider” the application of Department of Posts for a banking license “separately in consultation with the Government of India” is literally a slap in the face for the finance ministry.
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OPINION: The Reserve Bank of India’s welcome conservatism
More than four years after the then Finance Minister Pranab Mukherjee announced the government's intention to issue more banking licences, this has indeed been done. In 2010, there was much fervour about financial inclusion and, against that backdrop, new banks were seen as an important means of boosting capacity and penetration of financial services.
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Peer-to-peer Lender SoFi Closes On $80 Million To Expand Its Lending Business
Confirming our earlier reporting, the peer-to-peer lender Social Finance said it closed on $80 million in fresh funding, as it looks to expand its lending operations to mortgages and personal loans.
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- lending
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Social Entrepreneurs: Don’t Forget About Kickstarter
The fundraising platform wants to be a place where projects for good get off the ground.
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- crowdfunding
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Zimbabwe’s Econet Launches Mobile Money Loan Service
Zimbabwean users of the mobile money platform, EcoCash, are now able to access urgent loans of up to $500 using their cellphones.
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- Sub-Saharan Africa
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Reorienting Financial Inclusion in India
Fixing small business finance is a great place to start improving financial inclusion. This is a reform that is overdue and should not wait.
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- South Asia
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India Announces First Bank Licences in a Decade
India on Wednesday announced it was issuing two new bank licenses for the first time in a decade as it accelerates a push to bring more Indians into the formal banking system.
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- South Asia
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Behind the Scenes at Financial Inclusion 2020: Elisabeth Rhyne outlines the next steps in the movement to achieve global financial access
The Financial Inclusion 2020 Global Forum brought together hundreds of leaders to dedicate themselves to quality financial access for all by 2020. Since October, the Center for Financial Inclusion has been following up on the insights generated at the summit, and laying the groundwork for the next big push. Elisabeth Rhyne discusses the movement’s progress and next steps.
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