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Twenty Crore Bank Accounts Opened: Where Does Jan Dhan Yojana Go From Here? An Explainer
Duplication of accounts, account dormancy and the financial unsustainability of the Bank Mitra model. While the Jan Dhan Yojana may be one of the most exhaustive financial inclusion processes to date, there’s still more to be done.
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- Uncategorized
- Region
- South Asia
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Want to Serve the World’s Poorest Citizens? Take Your Company Public in India
For the last 15 years or so, there has been lots of hype about “business models” that will alleviate global poverty while turning a profit. It was a premise derived from the success of the microfinance industry in providing credit to some of the poorest people in the world, who, contrary to conventional wisdom, had a higher repayment rate than the typical borrower. As the late Dr. CK Prahalad hypothesized in his landmark book, “The Fortune at the Bottom of the Pyramid”, there are several strategies that organizations fighting global poverty need to master – and that those capabilities are in abundance in the private sector. They are better at marketing. They are better at R&D and understanding price points. And they are good at partnerships when it serves their purposes. The public and non-profit sectors, alternatively, are generally not very good at any of these things.
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- Uncategorized
- Region
- South Asia
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What Would Happen if We Just Gave People Money?
Daniel Straub remembers the night he got hooked on basic income. He had invited Götz Werner, a billionaire owner of a German drugstore chain, to give an independent talk in Zurich, where Straub was working as a project manager for a think tank. He had read an article about the radical proposal to unconditionally guarantee citizens an income and spent a few years casually researching the idea. Straub had heard Werner was a good speaker on the topic, and that night in 2009 he was indeed excellent at connecting with the audience, a sold-out house of 200. “It was a very intense evening; people were paying attention,” Straub recalled.
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Challenging Conventional Wisdom in Social Innovation
There are no shortage of books on social entrepreneurship and innovation, but are they the books young people need? Do we have the right balance between theory and practice, or mechanics and motivation? Whose voice is dominant? What’s wrong with many of the current books on offer that drove me to publish two of my own?
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Is Jim Kim Destroying the World Bank — or Saving it From Itself?
In a shantytown perched in the hilly outskirts of Lima, Peru, people were dying. It was 1994, and thousands of squatters — many of them rural migrants who had fled from their country’s Maoist guerrilla insurgency — were crammed into unventilated hovels, living without basic sanitation. They faced outbreaks of cholera and other infectious diseases, but a government austerity program, which had slashed subsidized health care, forced many residents to forgo medical treatment they couldn’t afford. When food ran short, they formed ad hoc collectives to stave off starvation.
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Digital Government: 4 Keys to Kenya’s Success with Electronic Government Payments
Kenya has long been grappling with inefficiencies in government service delivery, characterized by resource constraints, bureaucratic processes and lack of accountability. In response, the government launched an integrated service model for person-to-government and business-to-government payments, allowing digital payments via online and mobile tools. Here are four reasons Kenya is ideally suited to digitize its government functions.
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In Response to Fraud, Bank of Ghana Puts Hold on Issuing New Microfinance Licenses
The Bank of Ghana (BoG) has put on hold the issuing of new licences to microfinance companies.
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- Uncategorized
- Region
- Sub-Saharan Africa
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- microfinance
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Airtime to the Rescue: Why India Should Mobilize Telcos for Disaster Relief
Last April, when a 7.8 magnitude earthquake shook Nepal, telcos offered free mobile airtime for 48 hours to their customers based in India, so they could connect with their family members and friends in Nepal. This example illustrates the potential of utilizing the payments infrastructure to respond to natural disasters. I believe this potential could be more fully realized by channeling relief and rehabilitation funds to disaster victims using airtime as currency – and India is the ideal proving ground for the concept.
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