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Ministry’s scepticism, Aadhaar issues hang over Nachiket Mor financial inclusion plan in India
The finance ministry has questioned the practicality of some recommendations made by a panel formed by the Reserve Bank of India (RBI) to promote financial inclusion, including a 1 January 2016 deadline it has set for making an Aadhaar-linked bank account available to every adult Indian.
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Mobile network operators team up in Sri Lanka to provide mobile money to 60% of population
Etisalat joined Dialog’s eZ Cash mobile money platform on Monday, enabling a combined subscriber base of 12.7 million —over 60% of the country’s population— to enjoy ‘seamless and convenient mobile money services’ that lets them deposit, send or receive money and pay utility bills, insurance premia and engage in other transactions.
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Annapurna Microfinance raises $5M in Series B funding
Odisha-based Annapurna Microfinance Pvt Ltd (AMPL) has raised Rs 30 crore (around $5 million) in a Series B round of funding led by Belgian Investment Company for Developing Countries (BIO), with participation from the existing investor Incofin Investment Management's Rural Impulse Fund II.
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- Impact Assessment
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Central Bank of Nigeria gives room for microfinance bank mergers and acquisitions
There is an expectation of stronger microfinance banks (MFBs) in the country if the micro institutions that could not meet with their recapitalisation requirements, successfully engage and conclude with mergers and acquisition as they are directed by the Central Bank of Nigeria (CBN).
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Opportunity International & The MasterCard Foundation Plan To Help 7M Out of Poverty With $22.7M Partnership
Opportunity International is a non-profit microfinance organization established in 1971. Over the last 42 years OI has provided $6 billion in microfinance loans and has reached over 5 million clients in 22 countries. In 2009, The MasterCard MA -1.08% Foundation and the Bill & Melinda Gates Foundation partnered with OI and co-funded a $16 million project to expand access to saving accounts and agricultural loans in Sub-Saharan Africa.
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- Impact Assessment
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Why Insurers are Looking to Kenya’s Low-Income Earners for New Business
Low-income earners have traditionally been underserved when it comes to being provided with avenues to manage the risks they face every day.
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- Region
- Sub-Saharan Africa
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OPINION: India’s Mor Report on Financial Inclusion Doesn’t Focus Enough on Expanding Access to Credit
The Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (the Nachiket Mor Committee on financial inclusion) has delivered a detailed report in a very short time.
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- Region
- South Asia
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Saving Nigeria’s micro-finance banking sector
The recent approval of the liquidation of 83 micro-finance banks (MFBs) by the Central Bank of Nigeria (CBN) is bad news from the banking sector. It is worrisome that as many as 83 of these institutions are going under, barely four years after 224 of them were declared insolvent in 2010, with attendant negative implications for depositors’ funds.
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