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Digital fraud on the rise as Indian government pushes toward cashless economy
One unintended fallout of the government's aggressive push for digital transactions is a significant jump in digital payment frauds whereby people are losing money through online payment and e-wallets.
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- Uncategorized
- Region
- South Asia
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Women Struggle to Repay Loans Taken From Microfinance Institutions in India
The demonetisation of Rs. 1,000 and Rs. 500 notes has severely affected women who had borrowed loans from microfinance institutions. While some of them have resorted to mortgaging gold and sell household items to pay weekly instalments, there have been cases where some attempted suicide as they were unable to bear the burden of repaying the loans.
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- Uncategorized
- Region
- South Asia
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- lending, microfinance
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Viewpoint: Why Microfinance Is an Ugly Word in India’s Villages
Vidarbha, the cotton bowl of India - which has been periodically witnessing the spectre of suicide with farmers plagued by unmanageable debts taking their lives - is now back in news for almost similar reasons. This time, in the centre of the storm are microfinance institutions. Borrowers in four districts - Nagpur, Amravati Yavatmal and Wardha - have started defaulting on their loans, egged on by politicians.
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- Uncategorized
- Region
- South Asia
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Tanzania: 86% Are Financially Included, a New Twaweza Study Says
The number of Tanzanian adults who have access to financial services has increased to 86 per cent compared with 16 per cent recorded in 2009, a new study reveals.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Opportunity International Sells Share of Rwanda’s Largest Microfinance Bank to HOPE International
Opportunity International and its affiliates in Canada and Germany have completed a share purchase agreement to sell its 50 percent ownership of Urwego Opportunity Bank (“Urwego”) to HOPE International, a network of Christ-centered microenterprise development programs in 16 countries.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Could Trump’s Election Be Good News For The Underbanked?
On the surface, the incoming Trump administration looks like a disaster for consumer activists. After eight years of successfully pressing the government to back financial protections for consumers, they could see their work quickly unravel in January.
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- Uncategorized
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Islamic Banking has No Relevance in India: Union Finance Ministry
The Union Finance Ministry said Friday that Islamic banking was not relevant any more in achieving the objectives of financial inclusion as the government has already introduced programmes like Jan Dhan Yojana and Suraksha Bima Yojna for all citizens towards that end.
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- Uncategorized
- Region
- South Asia
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Unlocking Human Potential: How Psychometric Scoring Can Turbocharge Financial Inclusion
EFL Global aims to enable lending to underserved borrowers around the world. The firm pioneered psychometric credit scoring, a screening tool designed to identify traits key to successful entrepreneurship. In this email Q&A with NextBillion Senior Editor James Militzer, Jared Miller, CEO of EFL Global, talks about efforts by his company and others to “turbocharge” financial inclusion.
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- Uncategorized
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