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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.
- Categories
- 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.
- Categories
- 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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Bangladesh Backs Mobile Phones to Move Cash Among Rural Poor
Bangladesh, home to the world’s second-largest mobile money company, is moving to consolidate the industry as it expands financial services to the rural poor.
- Categories
- Uncategorized
- Region
- South Asia
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India’s ‘Medicine Baba’ Gets Drugs From Rich, Gives to Poor
Omkarnath spends his days searching New Delhi for drugs. A call to the phone number printed boldly on his saffron-colored tunic reveals his alternate identity: "Hello, I am Medicine Baba."
- Categories
- Health Care
- Region
- South Asia
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Smartphones Can Improve Health of Poor Urban Women
With a large majority of poor urban women having access to cellphones, the device can be used to improve the health of those at risk of diabetes and other diseases during their childbearing years, says a new study.
- Categories
- Health Care
- Region
- South Asia
- Tags
- public health
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