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Indian government to set up credit guarantee fund to support Rs 40,000-crore Financial Inclusion Mission
NEW DELHI: The government will set up a credit guarantee fund to support its over Rs 40,000-crore new Financial Inclusion Mission, which envisages to give a Rs 5,000 overdraft facility to around 8 crore new account holders.
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- Region
- South Asia
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Safaricom move to open up M-pesa agent network seen to aid mobile money services
Safaricom's move last week to allow agents for its M-pesa mobile money service to work for rival operators is broadly being viewed as having the potential to further fuel the growth of such services.
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- Technology
- Region
- Sub-Saharan Africa
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RBI spells out draft norms to set up payments banks, small banks in India
The Reserve Bank of India (RBI) on Thursday spelled out draft norms to set up payments banks and small banks in India that will give a major push for financial inclusion, or the process of spreading banking services in the un-banked segments, in Asia’s third largest economy.
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- South Asia
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OPINION: Five reasons why Modi government’s grand financial inclusion plan won’t work
The Modi-government has somewhat bought the idea of universal bank accounts, something first proposed by the Nachiket Mor panel in January, 2014. The plan will finally come up with a little bit of 'Modi'-fication. Instead of one full service bank account for every adult citizen by January 2016—the idea proposed by the Mor panel—the government plans to offer two bank account for every household within the next year.
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- Uncategorized
- Region
- South Asia
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Telecel Zimbabwe launches mobile money credit card
Zimbabwe's second largest telco by subscriber numbers, Telecel, on Wednesday launched a credit card for its mobile money system Telecash.
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- Uncategorized
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- Sub-Saharan Africa
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Mobile payments ideal for Africa
In emerging markets, mobile money has the power to transform lives, says Gemalto.
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- Uncategorized
- Region
- Sub-Saharan Africa
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IBM signes deal worth Rs 550 crore with microfinance firm Janalakshmi Financial Services
NEW DELHI: International Business Machines (IBM) has signed a deal worth Rs 550 crore with microfinance firmJanalakshmi Financial Services, according to people familiar with the discussions. IBM's consulting division, along with its Institute of Business Value, is leading the engagement, a person familiar with the transaction said.
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- Uncategorized
- Region
- South Asia
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Kenya mobiles step up rivalry
NAIROBI, Kenya - Kenya’s lucrative mobile money transfer market is set for unprecedented competition following the entry of three additional telecoms operators with intention to have a piece of the sector’s billion shillings pie.
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- Technology
- Region
- Sub-Saharan Africa
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