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Demonetisation: How to Get Cash-Stuck Microfinance Institutions Digitally Ready in India
The overnight demonetisation of R500 and R1,000 currency notes shook the entire Indian economy, for good or bad is yet uncertain. An estimated 85% of the value of currency has ceased to be a legal tender and the release of the new currency has been rationed for the next few months. Such a move from the government will most likely put a check on black money circulation in medium- to long-term, however, it will also impact businesses in the short-run given the fact that more than 90% of the consumer payments in India still happen in cash. The move is also expected to be a boon for digital financial services ecosystem in India. While the penetration of digital payments infrastructure has rapidly increased in the last two years, the value of consumer payments that happen through cards or other digital means in India is still far behind some of the other comparable economies. The point-of-sale terminals per 100,000 debits cards are lower in India compared to other BRIC nations (India-2; Russia-6.1; China-12.5; Brazil-14.8).
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- Technology
- Region
- South Asia
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Healthcare In Africa, Built By India
Economic diplomacy is the use of aid, trade, and investment policy tools to achieve a geopolitical objective. India’s geoeconomic diplomacy has so far focussed mainly on the use of scholarships, grants, and concessional lines of credit. New Delhi now has the capacity to move beyond those basics by using the strengths of India’s private sector in healthcare.
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- Health Care
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- South Asia
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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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Can Only Love for Our Postman Ensure Success for India Post Payments Bank?
People have been waiting eagerly for the launch of the India Post Payments Bank or IPPB, the largest among the eight that are likely to start operations over the next few months. Eleven entities received the Reserve Bank of India’s (RBI’s) in-principle approval for floating payments banks but three of them have left the field.
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- Technology
- Region
- South Asia
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- digital payments, fintech
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Vodafone launches M-Pesa Pay feature to enable merchants in India to receive mobile money payments
With an eye on the spurt in cashless transactions which will come about after the Government's demonetisation move, second largest telco Vodafone today launched a special feature on its mobile wallet to enable merchants for receive payments.
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- Technology
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- South Asia
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Study: Mobile money drives financial inclusion
Financial inclusion expanded 8 percentage points year-on-year in 2015, driven by growth in mobile money, according to a recent study. About 43 percent of Bangladeshis are financially included, says the study conducted by Washington-based research company InterMedia with funding from the Bill and Melinda Gates Foundation based on statistics of 2015.
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- Technology
- Region
- South Asia
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How an Indian Comic Book Is Teaching Girls About Their Periods
When Aditi Gupta got her first period, aged 12, everyone told her to keep it a secret. Even her closest family members in her native India couldn’t know. She was forbidden from worshipping at her temple while she was menstruating, and instead of sanitary products used rags that caused her to have rashes.
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- Education, Health Care
- Region
- South Asia
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Online Micro Credit on the Rise in India
Paving the way for migration of a large section of the population dependent on unofficial credit transactions into the formal sphere, the demonetisation move by the central government has boosted the prospects of online credit platforms.
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- Technology
- Region
- South Asia
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