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Singapore Fintech Out to Empower Asia’s Unbanked
For most of us including Singaporeans, not having access to credit and debit cards is almost unheard of. Beyond the Little Red Dot though, citizens in Asia, Africa, Latin America and the Middle East continue to transact with cash and coins. They are the world’s unbanked who have minimal contact with banks and financial services. Though the unbanked make up about half of the world’s adult populace today, emerging financial technology startups including Singapore fintech startups are amplifying efforts to bring financial inclusion to the unbanked right at their fingertips.
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- Uncategorized
- Region
- South Asia
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India Showing Improved Consumer Sentiment: Rakesh Kapoor, CEO, Reckitt Benckiser
Rakesh Kapoor, chief executive at British consumer goods firm Reckitt Benckiser, on Monday said India is showing "improvement in consumer sentiment" even as the maker of Dettol antiseptic liquid and Durex condoms reported better-than-expected performance for the quarter ended June.
- Categories
- Health Care
- Region
- South Asia
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Kerala Selects HP India to Provide Digital Healthcare Solution
The Department of Health and Family Welfare, Government of Kerala, has selected HP India to create an e-Health IT platform to enable the delivery of a digital healthcare solution and services for Health Care facilities across Kerala. The digital healthcare solution will help healthcare practitioners to improve patient care and focus resources.
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- Health Care
- Region
- South Asia
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Tencent’s WeBank Finds Sweet Spot in Microloans in China
Seven months after its launch, Tencent-backed (00700.HK) WeBank is showing off some of its first financial accomplishments that hint at the direction it may take as it carves out a place in China’s banking sector.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- microfinance
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Islamic banking consistently expanding in Pakistan
Last week, the State Bank of Pakistan granted its first license to a micro-finance bank and brought it into the Islamic mode.
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- Uncategorized
- Region
- South Asia
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Mutual Funds in India Invest $157M in Secured Debentures of Microfinance Institutions
Several mutual funds based in India, including Industrial Credit and Investment Corporation of India (ICICI) Prudential Mutual Fund, Housing Development Finance Corporation (HDFC) Mutual Fund, Kotak Mutual Fund, Reliance Mutual Fund and State Bank of India (SBI) Mutual Fund, recently invested in secured debentures issued by several Indian microfinance institutions (MFIs). The issuers include Equitas Microfinance (Equitas); Janalakshmi Financial Services (JFS); SKS Microfinance (SKS) and Ujjivan Financial Services (Ujjivan). Although the individual transaction amounts are not available, the investments by the mutual funds total approximately INR 10 billion (USD 157 million). The debentures bear coupon rates of 11.5 up to 13 percent, approximately 3 to 4 percent above than highly rated securities issued by other Indian companies. The securities are backed by receivables and fixed assets owned by the MFIs.
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- Uncategorized
- Region
- South Asia
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Transactions By Digital Wallets Up Three Times Between February and April
Digital wallets, which allow consumers to pay for purchases through devices such as mobile phones, are becoming popular, if an almost three-fold surge in the number of such transactions recorded between February and April this year is any indication.
- Categories
- Technology
- Region
- South Asia
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Grameen Koota Reaches Milestone With 1 Million Microfinance Customers
Bangalore-based NBFC –MFI, Grameen Koota Financial Services Pvt Ltd (Grameen Koota) has reached a new milestone of 1 million microfinance customers, in a testimony to its strong client-centric approach aimed at providing holistic financial and social services.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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