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India’s New “Payment Banks” Expected to Spur Innovation
The Reserve Bank of India (RBI) on Thursday released the final guidelines for licensing of payments and small banks. These banks are intended to cover the unbanked and underbanked areas and increase banking penetration in the country, stated the circular. Let’s take a look at the changes that these banks are likely to bring in financial services.
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- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Vodacom Looking to Expand Use of M-pesa
Vodacom is in talks with small and big companies with the aim of getting them to use its mobile payment platform, m-pesa, to pay salaries to employees and allow customers to pay for goods using the system.
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- Uncategorized
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Microloans Help Latinas Become Entrepreneurs In Los Angeles
As if it were a sacred ritual, every week Gloria Sánchez meets to talk business with four other Hispanic women who are on their way to entrepreneurship thanks to the system of microloans.
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- Uncategorized
- Tags
- microfinance
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Banks Get Better Access To Tap Micro Segment
The newly launched branchless banking regulation will enable banks to expand their financial services to disadvantaged and low-income segments at affordable costs, a senior official of the Financial Services Authority (OJK) has said.
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- Uncategorized
- Region
- South Asia
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Roadmap: Microfinance Industry Eyes 10m Customers By 2018
Perhaps this is the reason why Pakistan Microfinance Network (PMN) Chairman Nadeem Hussain believes that an impressive growth of 20-25% per annum for the past many years has still not made the country’s microfinance industry ‘relevant’ in the fight against poverty.
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- Uncategorized
- Region
- North Africa & Near East
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Finance: Egypt’s Small Borrowers Have Big Potential
A new law permitting non-bank for-profit lending institutions may unleash a revolution in microfinance by allowing more actors and innovators to get involved.
- Categories
- Uncategorized
- Region
- North Africa & Near East
- Tags
- microfinance
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NBFCs say Reserve Bank of India’s new rules will work against financial inclusion, drive towards unscrupulous moneylenders
On a typical day, Rohit Bokhare makes about Rs 800 taking passengers in his Mahindra Xylo between Saki Naka in Andheri and Adlabs Imagica on the Mumbai-Pune expressway in Raigad district. The 51-year-old defaulted on repayment of the loan he took to purchase the utility vehicle for four months, which led his financier to come inquiring. Shriram Transport Finance, the non-bank finance company that financed the vehicle, last week found his Xylo lying in a garage for repair for 20-25 days, blocking his regular cash flow. To top it up, Bokhare had a repair bill of Rs 20,000-25,000. He couldn't pay the EMIs in the previous months because of family exigencies.
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- Uncategorized
- Region
- South Asia
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Finance Minister Will Have A Golden Moment To End Financial Repression
As I sit down to write this, a letter comes to my desk. Handwritten by a 90-year-old man, the letter seeks help from Mint’s insurance expert in resolving a fraud carried out by an insurance company agent who sold a policy for his grand-daughter, changing her status from a US citizen to a non-resident Indian and promising returns in dollars.
- Region
- South Asia
- Tags
- public policy, regulations