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Mobile wallet Mobikwik’s cash-back scheme runs afoul of Indian regulators
Mobile wallets company Mobikwik has withdrawn a scheme where it offered a “6% annual profit” to customers who maintain a monthly balance of at least Rs.5,000 in their mobile wallets.
- Categories
- Technology
- Region
- South Asia
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International Finance Corp bets big on India’s microfinance sector
The World Bank affiliate IFC is set to invest Rs 300 crore in TPG Capital and Citigroup backed-Janalakshmi Financial Services and another Rs 135 crore in CreditAccess Asia promoted Grameen Koota Financial Services.
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- Uncategorized
- Region
- South Asia
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Price cap on medical devices could prove counterproductive, say doctors
Mansukhalal Suvalal, 77, travelled all the way from Ahmednagar, Maharashtra to Bengaluru, accompanied by his grandchildren, hoping to break his decade-long silence. In his battle with Stage IV throat cancer, he had lost his voice box after he underwent laryngectomy .
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- Health Care
- Region
- South Asia
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India Post to open payments bank with 650 branches
India Post, which already offers limited financial services through its 154,800 post offices, is also becoming a payments bank with 650 dedicated branches involving an investment of Rs 800 crore, officials said on Wednesday.
- Categories
- Impact Assessment
- Region
- South Asia
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Condom conundrum: Health workers refuse to distribute condoms named Asha
Embarrassed government health activists called Asha are refusing to door-to-door with condoms that now carry the name, jeopardising a nationwide mission.
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- Health Care
- Region
- South Asia
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Viewpoint: Don’t write off India’s payments banks
The withdrawal of three licencees should not be read as a doomsday omen for the idea and underlying rationale. It is too early to write off a well-intentioned idea that puts change and innovation before incumbency. Rather, these withdrawals should be seen as signaling the need for introspection and course-correction to adapt to the fast-changing, competitive landscape of India’s banking and payments sector.
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- Uncategorized
- Region
- South Asia
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Time for India to be innovator nation in bio-pharmaceuticals: Expert
India has a "strong potential" to become a hub for biopharmaceutical innovation and the time has come for it to emerge as an innovator nation in this sector, a top industry leader has said. Observing India's potential, Michael Rosenblatt, executive vice president of Merck & Co, one of the world's largest pharmaceutical companies, said yesterday that India can play a "leading role" in collaborative research in biopharmaceutics.
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- Health Care
- Region
- South Asia
- Tags
- innovation
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Cashless in India: 50 days’ journey of a fintech professional
Are you sure you want to do this? Richa, my wife asked as I shared my idea to undertake an experiment in which I will stop using cash and instead use only digital forms of payment. Colleagues said going cashless in India is difficult and that I wouldn’t be able to manage more than a week. All this and the fundamental question “As a believer in digitization of cash, am I just propagating the theory or do I really understand the consumer side of story?” With this started the quest to understand “Cashlessness” first hand.
- Categories
- Technology
- Region
- South Asia
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