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Reserve Bank of India allows co-operative banks to issue mobile wallets
The Reserve Bank of India (RBI) has allowed co-operative banks, who are permitted to install ATMs and issue debit cards, to also issue prepaid payment instruments PPIs like mobile wallets.
- Categories
- Technology
- Region
- South Asia
- Tags
- mobile finance
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Unitus Seed Fund hires Milind Shah as healthcare venture partner
Early-stage impact-focused venture fund Unitus Seed Fund has roped in Milind Shah, the India managing director of global healthcare company Medtronic as its healthcare venture partner.
- Categories
- Health Care
- Region
- South Asia
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For India’s mobile wallet players, it’s survival of the fittest, not the fastest
"We have doubled in last seven months," says Upasana Taku, cofounder of the Gurgaon-based firm, which claims to have 55 million users and over 1.5 million merchants. We have a field force of thousand people, each acquiring 10 merchants every day, claims Taku.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- digital payments, fintech
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In 2 years, Indian government electrified 13,523 villages; only 8% were completely electrified
As of May 25, 2017, 13,523 villages have been electrified, but 100% household connectivity has been achieved in only 1,089 villages, according to data in the power ministry’s Grameen Vidyutikaran (GARV) dashboard.
- Categories
- Energy, Environment
- Region
- South Asia
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Inside India’s Plans To Leapfrog The Western Model Of Car Ownership
If successful, the shift would save the country $60 billion in diesel and gas costs in 2030. Instead of 170 million cars, the number expected with the current trajectory, there would be 77 million. CO2 emissions from passenger transport would drop 37% compared to the business-as-usual scenario; energy use in passenger transport would drop 64%.
- Categories
- Technology
- Region
- South Asia
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Indians are using mobile wallets more but for smaller purchases
As the Indian economy recovers, mobile wallet payments are continuing to accelerate. Their transaction value of over $3.6 billion in the first quarter of 2017 marked a 60% increase from the previous quarter, according to a new report from RedSeer Management Consulting.
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- Technology
- Region
- South Asia
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WHO India backs government plan to make medicines cheaper, says global impact will be positive
As the government gears up to push generic medicines to bring down costs for patients, World Health Organisation (WHO) representative in India, Henk Bekedam has stated that the move, if successfully implemented, will not only reduce the cost of medicines within the country but also globally.
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- Health Care
- Region
- South Asia
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Fintech’s Coming to Trounce India’s Banks
India's banks, which still dominate the country's financial landscape, appear to have hardly a kick left in them. Stressed assets without any loan-loss cover now exceed $96 billion, McKinsey & Co. said last week. An overwhelming 91 percent, or $87 billion, of the provisioning gap is at state-run lenders, whose net worth would be wiped out if they took the hit on their capital.
- Categories
- Technology
- Region
- South Asia
- Tags
- fintech, mobile finance
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