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Has the Indian Government’s Microloan Scheme Been Successful?
The government’s micro loan scheme, going by the moniker Pradhan Mantri Mudra Yojana, has disbursed Rs1.53 trillion worth of loans so far in 2016-17, which represents a 15.04% growth from the previous fiscal year. Recall that in fiscal year 2016 (FY16), when the scheme was first implemented, disbursements had exceeded the target specified by that year’s budget.
- Categories
- Uncategorized
- Region
- South Asia
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Insurance in Africa: The threat of tech
No insurer wants to see new innovators encroaching on their territory. To outflank them, some are working with these fintech companies to help pursue their own technological projects, reach the continent’s large uninsured populations, develop new products and cut costs.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Indian Entrepreneurs Compete in the Inclusion Plus Final Round
Artoo, Badhti Bachat of Janalakshmi, Shram Sarathi, Suvidhaa Nanocredit and Swadhaar Saathi have been selected as finalists in the third wave of Inclusion Plus, a global competition, managed by Verb, Inc., for entrepreneurs to accelerate financial inclusion.
- Categories
- Uncategorized
- Region
- South Asia
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Fintech Deals in South East Asia Hit Record Numbers in 2016
The total number of venture-backed deals to fintech companies in South East Asia (i.e. Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam) reached record highs in 2016 according to data released by CB Insights recently.
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- Technology
- Region
- Asia Pacific
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Dollar by Dollar or Goat by Goat: How Financial Health Translates Across Oceans
The Center for Financial Services Innovation, in partnership with the Center for Financial Inclusion at Accion and funded by the Bill & Melinda Gates Foundation, explored how a U.S.-oriented financial health framework could translate into a developing world context. They discovered that the concept of financial health resonates just as strongly in lower-income countries as it does in the United States.
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- Uncategorized
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Cambodian MFIs relax stance on rates cap
Microfinance institutions will not object to an 18 percent cap on interest rates which comes into effect on April 1, a senior official from the Cambodia Microfinance Association said. Association president Hout Ieng Tong said yesterday they would not seek a rise in the rate because the government had considered the issue thoroughly before ordering the cap.
- Categories
- Uncategorized
- Region
- South Asia
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Economy & Nation Defaults rising in MFI loan book post demonetisation
Post demonetisation, the delinquencies in microfinance institutions (MFI) loan books are rising. Ratings agency ICRA recently downgraded its outlook on two prominent MFIs to negative from stable, mainly due to limited currency supply and disruption in borrower cash flows, which hampered overall the collection efficiency of these lenders
- Categories
- Technology
- Region
- South Asia
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Asian Development Bank and Credit Access Asia Sign $32 Million Deal to Improve Financial Inclusion in Asia
The Asian Development Bank signed a €30 million ($32 million) equity investment agreement with CreditAccess Asia, a holding company headquartered in Amsterdam, that operates microfinance institutions across Asia, currently serving approximately 1.8 million customers, 99.8% of whom are women.
- Categories
- Investing
- Region
- South Asia
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