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Indian MFI Spandana Sphoorty raises $270 million
Microfinance lender Spandana Sphoorty Financial Ltd has raised $270 million of funding, which will facilitate its exit from the corporate debt restructuring cell (CDR) after seven years, it said in a statement on 31 March.
- Categories
- Uncategorized
- Region
- South Asia
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Digital transactions decline for third straight month in India
Digital payments, which saw a huge jump post demonetisation, is seeing some form of correction in transaction numbers and value of payments for the third month in a row in 2017. All major forms of digital payments, Immediate Payment Service (IMPS) along with mobile wallets and plastic cards, have seen a reduction in transaction numbers.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments, fintech
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WhatsApp reportedly in talks to integrate with a mobile payment platform in India
Late last year, India ceased circulation of its two highest-denomination bank notes in a bid to tackle the flow of money associated with corruption and terrorist activities. The move fuelled the popularity of mobile wallet solutions, such as Paytm which has amassed over 200 million wallet users, providing a significant incentive for Samsung to integrate the service with Samsung Pay in time for its Indian launch.
- Categories
- Technology
- Region
- South Asia
- Tags
- digital payments
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Viewpoint: How artificial intelligence is disrupting healthcare in India
We are a country of a billion people. However, at one doctor for 1,681 patients, we have one of the lowest doctor-to-patient ratios in the world. In rural areas, the numbers are even more skewed. In the US and Japan, this ratio is around 1:400.
- Region
- South Asia
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As Delhi hikes minimum wage, trade unions urge other Indian states to follow
A "historic" move to raise the minimum wage of millions of Delhi's poorest workers by almost 40 percent should be extended to other parts of the country to fight exploitation, trade unions and rights groups said on Tuesday.
- Categories
- Uncategorized
- Region
- South Asia
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Indonesia on Track to Greater Financial Inclusion
Millions of unbanked Indonesians are going to enjoy easier access to the savings, loan and insurance services on the back of the government's renewed political will to tackle financial exclusion, an executive at Bill and Melinda Gates Foundation said. President Joko "Jokowi" Widodo's seeks to grant access to financial services to 75 percent of Indonesian adults by 2019, up from 36 percent in 2014.
- Categories
- Uncategorized
- Region
- South Asia
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India: IFC to provide up to $20m debt to RGVN Microfinance
IFC (International Finance Corporation), a member of the World Bank Group, will provide up to $20 million to RGVN (North East) Microfinance Ltd in the form of a senior debt investment, according to an IFC disclosure.
- Categories
- Impact Assessment, Investing
- Region
- South Asia
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India aims to become 100% e-vehicle nation by 2030: Piyush Goyal
The government is working on a scheme to provide electric cars on zero down payment for which people can pay out of their savings on expensive fossil fuels, for becoming 100 per cent electric vehicle nation by 2030. "India can become the first country of its size which will run 100 per cent of electric vehicles. We are trying to make this programme self financing.
- Categories
- Energy, Environment
- Region
- South Asia
- Tags
- renewable energy
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