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India’s Jana Small Finance Bank launches commercial operations
Bengaluru-based Jana Small Finance Bank looks to turn profitable by the end of fiscal 2019.
- Region
- South Asia
- Tags
- banking, banks, financial services, India, MFIs, microfinance
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India’s Banking Revolution Has Left Its Villagers Behind
Because Modi’s government effectively forced poor citizens into the banking system by linking some welfare benefits to bank accounts, villagers have ended up stuck in long queues and struggling with ATMs that often run out of cash or break down.
- Region
- South Asia
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Two Kenyan banks lose $0.86 million to hackers in a month
Kenyan banks are believed to have lost at least $860,000 to hackers in the past one month, which has seen two lenders temporarily terminate their mobile and online banking services.
- Categories
- Inclusive Fintech
- Region
- Sub-Saharan Africa
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Viewpoint: Achieving Nigeria’s financial inclusion
Despite the country’s economic growth, in February this year, it was reported by the AfDB that over 150 million Nigerians (81% of the population) live on less than $2 a day – a 20% increase in people since 2014.
- Region
- Sub-Saharan Africa
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Fintechs in India cater mostly to the affluent, huge potential in lower middle class: J P Morgan
Fintechs have an opportunity to cater to the lower middle income or LMI segment with an income ranging from $2 to $10 a day and are about 600 million in number.
- Categories
- Inclusive Fintech
- Region
- South Asia
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Four Asian Banks Get Clearance To Open Branches in India
A senior government official told BloombergQuint the proposals pertained to the banks expanding their operations and opening new branches in India. The government has conveyed to the Reserve Bank of India it has no objection over the same, the official said.
- Region
- South Asia
- Tags
- APAC, Asia Pacific, banking, banks, China, financial services, Iran, South Korea
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Federal Bank looks to acquire Madura Microfinance
The acquisition will help Federal Bank venture into microfinance and grow its priority sector loans.
- Region
- South Asia
- Tags
- banking, banks, financial services, India, MFIs, microfinance
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India’s RBL Bank Completes Ownership of Microfinance Institution (MFI) Swadhaar Finserve with Equity Purchases from Accion, Individual Investors
For an undisclosed prices, RBL bought a 36-percent stake from US-based NGO Accion and a total of 4 percent from a group of unidentified individual investors.
- Region
- South Asia
- Tags
- Accion, banking, banks, financial services, India, microfinance, MSMEs, SMEs
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