Under the project, an expansion of IFC's Distressed Asset Recovery Program's work in India, IFC will invest up to $100 million in the J.C. Flowers India Opportunities Fund if certain conditions are met, with an initial commitment of $40 million.

The senior director and deputy chief ratings officer at Crisil said the sector's collection efficiency has stalled at 90 to 94 percent over the past few months, compared with the pre-pandemic level of 98 to 99 percent.

Through this partnership FinScore will intensify its focus on delivering alternative credit scoring to help financial institutions reduce high default rates and prevent fraudulent activity.

The tie-up will enable Indian startups and SMBs to fold technology into their operations and accelerate digitalization while also maintaining business continuity and preparing for alternatives to cash payments.

The program is designed to increase climate lending by participating banks in Egypt, Mexico, the Philippines, and South Africa to 30 percent of their portfolios by 2030.

Filipino households in the lower-income group, especially those in the rural areas of the country, are still struggling to save.

ICICI Bank announced that it has transformed its state-of-the-art mobile banking app, iMobile, into an app that offers payments and banking services to customers of any bank.

An endeavor to address a critical gap in affordable green housing in India will benefit scores of low-income borrowers, including women.

The global financial inclusion ranking of the Philippines slipped further this year despite improvements spurred by the government’s need to promote digital channels as part of its response to the COVID-19 pandemic.

Remittances are an important source of income for low/middle-income countries. But nations that rely more on these inflows have been hit harder.