The Reserve Bank of India (RBI) on Friday said it has come across instances of micro lenders and non-bank financiers charging high, 'usurious' interest rates on small-value loans, reminding them to judiciously use their pricing power. 

By streamlining cross-border payments and reducing reliance on third-party currencies, initiatives like these promote financial inclusion and stability. 

Oikocredit, alongside Z3 Partners and with the participation of British International Investment, has led a $39 million equity investment in Altum Credo to bolster affordable housing finance in India.

The grant will support the Empowering Microfinance and Enterprises for Resilience and Growth (EMERGe) Project and will be provided directly to the Aga Khan Foundation USA.

The capital will be used in funding expansion to new geographies and existing ones along with new product lines.

Advans Pakistan Microfinance Bank Limited, the target of the acquisition, represents the Pakistani branch of the renowned Advans Group, a leading international microfinance group with operations spanning nine developing countries.

The newly established Secured Transactions Registry aims to facilitate the use of moveable assets as collateral for loans while ensuring financial stability and fostering economic growth in Sri Lanka.

In India, rural fintech emerges as a compelling solution, leveraging technology to extend financial inclusion to the country’s vast rural population.

The five-year initiative aims to advance digital financial inclusion for 20 million people, especially women, small holder farmers, and nano, micro and small enterprise owners across low- and middle-income countries in Africa, Asia and Latin America.

Ericsson and Telenor Microfinance Bank have signed a multi-year extension of their partnership to propel easypaisa’s financial services offerings and expand the horizon of their service portfolio within the fintech sector in Pakistan.