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NBFCs say Reserve Bank of India’s new rules will work against financial inclusion, drive towards unscrupulous moneylenders
On a typical day, Rohit Bokhare makes about Rs 800 taking passengers in his Mahindra Xylo between Saki Naka in Andheri and Adlabs Imagica on the Mumbai-Pune expressway in Raigad district. The 51-year-old defaulted on repayment of the loan he took to purchase the utility vehicle for four months, which led his financier to come inquiring. Shriram Transport Finance, the non-bank finance company that financed the vehicle, last week found his Xylo lying in a garage for repair for 20-25 days, blocking his regular cash flow. To top it up, Bokhare had a repair bill of Rs 20,000-25,000. He couldn't pay the EMIs in the previous months because of family exigencies.
- Categories
- Uncategorized
- Region
- South Asia
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Finance Minister Will Have A Golden Moment To End Financial Repression
As I sit down to write this, a letter comes to my desk. Handwritten by a 90-year-old man, the letter seeks help from Mint’s insurance expert in resolving a fraud carried out by an insurance company agent who sold a policy for his grand-daughter, changing her status from a US citizen to a non-resident Indian and promising returns in dollars.
- Region
- South Asia
- Tags
- public policy, regulations
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China’s War On Malaria: A Tiny Nation Pushed Into A Test-Tube
Artepharm, a Cantonese medical drugs laboratory, has been engaged for the past few years in a remarkable venture against malaria, a health scourge that has long plagued humanity and has been responsible for every second human death since the Middle Ages.
- Categories
- Health Care
- Region
- South Asia
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Indian M-Wallet Market To Cross Rs 1,200 Crore By 2019: Study
The infant mobile wallet market in India is estimated to grow over threefold to Rs 1,210 crore in the next five years, buoyed by rising smartphone users and entry of newer players into the sector.
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- Uncategorized
- Region
- South Asia
- Tags
- mobile finance
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Micro-insurance On the Up Among Insurers and Public
While insurance penetration in general remains low, micro-insurance has seen significant growth as more banks partner with insurance firms to offer micro-insurance products to low-income earners.
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- Uncategorized
- Region
- South Asia
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Mobile Banking Will Soon Be Possible in India With a Basic Handset and Without Accessing the Internet
Banking will have a new look with some of the jigsaw pieces slowly falling into place. Almost all dealings between a customer and her bank will be possible with a basic handset and without accessing the Internet.
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- Uncategorized
- Region
- South Asia
- Tags
- mobile finance
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Indian MFIs’ gross loan portfolio rose 47% in Q2 FY15
The loan portfolio in south comprise a third of total.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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This Indian start-up could disrupt health care with its powerful and affordable diagnostic machine
Frustrated at the lack of interest by the medical establishment in reducing the costs of diagnostic testing, Kanav Kahol returned home to New Delhi in 2011 and built a prototype of a device called the Swasthya Slate (which translates to “Health Tablet”) in less than three months, for a cost of $11,000.
- Categories
- Health Care, Technology
- Region
- South Asia
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