50 Nations Promised Cash to Fight COVID-19
50 nations promised cash to fight Covid-19, but few, like India and Bangladesh, are doing it right. India’s trinity of Jan Dhan, Aadhaar, and mobile communications — or JAM — can work wonders if it is used extensively to reform citizen–state engagement.
The Digital Rupee — Is India Ready for the Next Wave of Digital Payments?
Going forward, it is critical for India to build an accessible, inclusive and resilient payment system that can withstand sustained shocks in the aftermath of the COVID-19 crisis.
India: Digital Lenders Struggle to Cope With Slowdown Induced by Virus
Digital lenders are seeking guidelines for full digitization and allowing eKYC and eSign mandates.
Covid-19 Relief: HDFC Bank Releases FAQ on Deferred EMIs and its Impact
As the Reserve Bank of India announced relief measures for the common man to deal with coronavirus, several banks have come out with their explanations on what will the impact on the EMIs for the customers if they opt for deferring the EMIs by three months. Here is an FAQ by HDFC Bank, explaining how the stipulation by RBI will impact its customers.
Lockdown, Microfinance Institutions Apprehensive for Growth, likely to Shelve Expansion Plans
KOLKATA: The microfinance institutions (MFIs), which are currently feeling the pinch of the coronavirus pandemic with their operations being suspended during the nationwide lockdown, are concerned about the near- term growth of the industry, officials said on Monday.
Users Can Now Send Money Through WhatsApp in India’s Massive Digital Payments Market
Facebook-owned messaging service WhatsApp will let users in India send money through the app starting Friday provided that they have a bank account and debit card in India.
Indians’ Access to Mobile Money Jumps 17-Fold in Four Years: IMF
IMF’s financial access survey for 2020 said the number of registered mobile money accounts per thousand adults jumped from 73 in 2015 to 1,265 in 2019.
The COVID Pandemic’s Sledgehammer Blow to Remittances
Remittances are an important source of income for low/middle-income countries. But nations that rely more on these inflows have been hit harder.
IFC, Aavas Financiers to Help Catalyze Affordable Green Housing Finance for Low-Income Borrowers in India
An endeavor to address a critical gap in affordable green housing in India will benefit scores of low-income borrowers, including women.
ICICI Bank Launches First Mobile Banking App
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.