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Demonetisation Anniversary: 40% of Indian Mobile Wallet Users Shift Back to Cash
A study on the usage pattern of mobile wallets conducted by Chrome Data Analytics & Media, found that around 40% out of the 65% active users for mobile wallets have shifted to cash transaction with an increase in the availability of cash in hand.
- Region
- South Asia
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India still scarred a year after Modi’s demonetization move
It is almost a year since India’s prime minister, Narendra Modi, announced a shock move to ban most of the cash in circulation.
There remains a significant level of skepticism from some quarters about how successful demonetization has been.- Region
- South Asia
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Demonetization’s impact on domestic remittances
Trends in domestic remittances before and after demonetization would provide an insight into the impact of the policy on incomes, liquidity, as well as choice of digital channels by members of the informal sector. Such data is, naturally, not yet available. However, there is a fascinating category of firms whose experience during this period can provide important perspectives.
- Region
- South Asia
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Centrum Capital to acquire FirstRand Bank’s microfinance business in India
As part of starting up, Centrum Capital has executed a definitive agreement to acquire the Indian microfinance business of South Africa-based FirstRand Bank, which currently has around 70,000 customers in the Maharashtra region and employs over 300 people. This is the second lending business the firm has recently entered, following its entry into affordable housing finance at the end of last year.
- Categories
- Uncategorized
- Region
- South Asia
- Tags
- lending, microfinance
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Muhammad Yunus: No reason for Grameen Bank operations in India
"In the mean time I suggested (them) to give limited banking license to successful MFIs (microfinance institutions) so that they can take deposits to become financially self- reliant, and expand their operation at a faster speed," he says.
- Categories
- Uncategorized
- Region
- South Asia
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Google Tez sees early success in India
It already has more than 7.5 million users, and has seen more than 30 million transactions since its launch in September. But it's no surprise that Google's seen early success in India.
- Categories
- Finance
- Region
- South Asia
- Tags
- digital payments, fintech
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Report: India had highest number of first-time internet users between 2012-15
"Nearly 90% of the 750 million people that went online for the first time between 2012 and 2015 were from developing economies, with the largest numbers from India (178 million) followed by China (122 million)," the report said. The findings will come as a big boost to the government at a time when it's pushing for digital literacy and promoting doing things digitally. Government sources said the number of people going online must have gone up in the past two years.
- Categories
- Technology
- Region
- South Asia
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Snapcart raises $10M to shed light on consumer spending in emerging markets
A 2-year-old startup tucked away in Southeast Asia, Snapcart is taking on $15 billion powerhouse Nielsen by shining a light on the black box that is consumer spending.
- Categories
- Uncategorized
- Region
- South Asia
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