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Demonetization Seems Like Deflation for Many People in India; Danger Signal for PM Modi
Narendra Modi talked emotionally about his commitment to eliminating black money yesterday (13 November) and sought 50 days to fix the cash crisis created by the demonetisation of Rs 500 and Rs 1,000 notes. Actually, he has far less time than that as the ordinary citizen’s patience is wearing thin after hours of standing in the sun before bank branches or ATMs. Modi has a potential PR disaster and political setback to reckon with.
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- Uncategorized
- Region
- South Asia
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Demonetization Turns Out to Be a Double Whammy for India’s Microfinance Sector
The demonetisation of high-value currency notes has come as a double whammy for micro finance institutions (MFIs), which have temporarily stopped providing credit to their customers while loan repayments have also taken a major hit, industry sources said.
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- Uncategorized
- Region
- South Asia
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The fresh round of investment by Eight Road Ventures
IFMR Capital, which helps financial institutions serving poor people raise funds, has received $25 million in funding from Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd. This is Chennai-based IFMR Capital’s second round of institutional funding.
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- Impact Assessment
- Region
- South Asia
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Kenya urged to adopt Islamic Microfinance to tackle poverty
Participants in the Global Islamic Microfinance Forum at the Intercontinental Hotel in Nairobi. Kenya has been urged to adopt Islamic microfinance business models to help lift many families out of poverty and boost financial inclusion of disadvantaged groups in the country.
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- Uncategorized
- Region
- Sub-Saharan Africa
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Weekly Roundup: Social Impact Sector Reacts to Trump With Fear, Uncertainty … Room for Hope?
It may be hard to believe – and even harder for some to accept – but Donald Trump is now the most powerful man in the world. And like many, the social business and global development world was, shall we say, taken aback by his victory this week. As the new reality sinks in and leaders and commentators try to make sense of his election, we’ve compiled a few of their more memorable reactions.
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- Social Enterprise
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5 Ways To Bring Everyone Into The Mainstream Financial System
If everyone had a bank account, the global economy could expand by $3.7 trillion by 2025, a recent report showed. New digital tools, like mobile money accounts and peer-to-peer lending, can bring millions of people into the formal financial system, opening up their ability to save, borrow, and live better lives.
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- Impact Assessment
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Safaricom Monitoring Use of Free M-Pesa Transactions Offer
Safaricom has revealed that it is watching the use of its new M-Pesa Kadogo offer of free transactions for amounts of less than 100 Ksh in order to determine whether a limit should be imposed on the number of transactions per user. The mobile operator introduced M-Pesa Kadogo during the release of its unaudited half year 2017 results (for the period ended September 30 2016).
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- Technology
- Region
- Sub-Saharan Africa
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Poor people’s access to financial services on the rise in India
A financial survey of four poor states of India—Odisha, Bihar, Madhya Pradesh and Uttar Pradesh—has revealed that access to formal banking outlets is not as difficult as had been in the past and an increasing number of people are being financially included.
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- Uncategorized
- Region
- Sub-Saharan Africa
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