The amount has doubled since 2018 due to improved technology, easier processing of loans, better loan recovery methods, increased competition, and a growing class of employees with an appetite for short-term credit.

The Humanitarian Transfers Platform enables humanitarian agencies to execute transfers directly to their interventions beneficiaries without a third party.

The aim of the partnership is to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the growth of a cashless society.

The new company offers reference products to impact investors and fund managers, centered around research, impact and investment solutions.

Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.

The plan is a result of a partnership between two of the country's foremost institutions that are offering Islamic finance and takaful solutions for the benefits of masses across the country.

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 new reforms plan and package of proposals with special focus on poor rural women will be presented to the Parliamentary Select Committee on Gender Equality within a month.

Based at the BRAC Institute of Governance and Development in Bangladesh, the Initiative supports rigorous research projects exploring this theme in South Asia and Sub-Saharan Africa.

Indonesian technology company Grab, one of the biggest names looking to make a mark in the segment, is engaged in expanding financial inclusion by adopting a grassroots strategy.