India: Fintech Firms Set for IPOs but Face Challenges
India’s fintech sector is set for landmark Initial Public Offerings (IPOs) in the next five months as at least three startups – Paytm, Mobikwik, Policybazaar – are likely to raise up to $3.7 billion through public offers.
IFC, JC Flowers Launch Platform to Help Indian Financial Institutions Resolve Distressed Assets
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.
Fight Against India's COVID-19 Second Wave: UAE Firms Waive Charges on Remittances
Money transfer companies in the UAE are trying to contribute in their own way to fight the COVID-19 pandemic situation in India by waiving charges to funds being transferred to India’s PM Cares Fund and Kerala Chief Minister’s Distress Relief Fund
Opportunity International Leverages Network Across India to Provide Emergency COVID-19 Relief to Millions
The 50-year-old nonprofit is marshalling its resources to deliver public health education, food supplies and direct medical support to millions in nine of the hardest hit states in India.
COVID-19 Second Wave Takes a Toll on Digital Payments
Digital payment transactions have fallen sharply between April and May after sustaining a rising trend till March, hit by the second wave of COVID-19 pandemic in India.
IEIN Seeking Collaborators to Establish Market Linkages for Self-Help Groups
The aim of the project is to support SHGs by providing them with business training, production skills and marketing information to empower rural women to adopt non-agricultural means of earning a sustainable livelihood.
Outlook for Non-Banks and Housing Financiers Shifts to "Improving" From "Stable"
The credit rating agency opined that adequate system liquidity, along with sufficient capital buffers, provides enough cushion to navigate the challenges from a subdued operating environment.
State-Specific Lockdowns to Hit Microfinance Institutions
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.
Reserve Bank Launches Index to Capture Financial Inclusion
The Financial Inclusion Index has been conceptualized as a comprehensive index incorporating details of banking, investments, insurance, postal, and the pension sector in consultation with government and respective sectoral regulators.
India: Visa to Enable Deeper Financial Inclusion With Offline Payments
The company has announced that it is driving a proof-of-concept in the country which will allow people to make payments in places with low or no internet connectivity.