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Deposits up 118 percent over 21 months in India’s Jan Dhan financial inclusion program
The average deposit per account under the Pradhan Mantri Jan Dhan Yojana (PMJDY) - a financial inclusion programme launched by Prime Minister Narendra Modi in August 2014 - increased 118 per cent from Rs 795 in September 2014 to Rs 1,735 in May 2016, according to IndiaSpend analysis of government data.
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- Region
- South Asia
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China touts new bank’s greater understanding of developing world
The China-led Asian Infrastructure Investment Bank (AIIB) will be different from institutions like the World Bank because it has a greater understanding of the developing world's needs, officials said on Sunday at its first annual meeting.
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- South Asia
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Medical colleges: Health Ministry to scrap no-profit clause
Accepting in principle that a medical college can be a profit-making enterprise, the Health Ministry has started the process to remove a clause in eligibility rules which states that permission to companies to set up medical colleges would be withdrawn if there is “commercialisation”.
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- Health Care
- Region
- South Asia
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IISC Innovation All Set To Make Diabetic Healthcare Afforable
While lifestyle changes and regular monitoring of blood glucose levels could reduce life-threatening complications arising from diabetes, glucometer to detect blood-glucose levels are currently expensive and unaffordable for many. Now scientists at the Indian Institute of Science (IISc), Bengaluru, have developed a low-cost glucometer kit to check blood-glucose levels.
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- Health Care
- Region
- South Asia
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Perspective: Asia’s Banks Take Stand on Impact Investing
Credit Suisse Private Banking Asia Pacific and Singapore’s UOB Venture Management have joined forces to launch a new fund based on a textbook definition of what impact investing means. A first round of funding recently closed for an impact investing venture capital fund supporting small- and medium-sized businesses in Asia.
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- South Asia
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- impact investing
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India’s HDFC Bank launches digital bank for SMEs
In its aim to grow its corporate market share, India’s HDFC Bank, the country’s second largest private sector lender, has announced a digital bank for its small and medium enterprises (SME) customers.
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- South Asia
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India’s Credit Information Bureau expands into small and micro loans segment
While speaking about CIBIL’s expansion in the small and micro loan segment Ratna Vishwanathan, CEO of MFIN commented, “Although banks have started providing data to all credit bureaus, CIBIL’s expertise in data insights and solutions is very valuable in the context of a more complete credit profile. CIBIL’s experience and leadership in handling a bureau will be a good value addition to the MFI credit rating ecosystem.”
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- Uncategorized
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- South Asia
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India’s fintech revolution is primed to put banks out of business
While global stock markets reset and U.S. tech unicorns readjust to new expectations and valuations, India’s tech renaissance is just beginning to flourish.
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- Uncategorized
- Region
- South Asia
- Tags
- fintech
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