Apr 21 2018
By making wage payments electronically, businesses in Latin America and the Caribbean could expand account ownership to as many as 30 million unbanked people.
India has significantly reduced the gender gap in providing access to financial services with 77% women against 83% men having bank accounts, the World Bank said in its Global Findex database 2017 released on Thursday. This despite the government's successful Jan Dhan Yojana, which is a national mission to ensure financial access in an affordable manner for the poorer sections of the society.
Globally, 69 percent of adults have a bank account. It may be noted that China has an unbanked population of 225 million adults, followed by India which is just 35 million short with 190 million. On the flip side, only 7% of the account holders used them for savings and 48% of the accounts remained inactive, the highest in the world.
Part of the explanation might be Indias Jan-Dhan Yojana scheme, developed by the government to increase account ownership, brought an additional 310 million Indians into the formal banking system by March 2018, many of whom might not yet have had an opportunity to use their new account, it said.
While the report acknowledges the role of Jan Dhan Yojana in increasing the number of people with a bank account, the interesting part is, nearly half the accounts remained inactive in the past year. Although more people have access to banking in India now, cash is still the dominant mode of payment. This is important because financial inclusion is crucial in helping people save money for an emergency, get loans to start businesses, and escape poverty.
Cuban state media say new president to be elected Wednesday
The rubber-stamp National Assembly voted on the proposal to promote Diaz-Canel, who is now first vice president. At Castro's side in the party leadership will be fellow old-guard revolutionary Jose Ramon Machado Ventura, 87.
Busch passes Larson to win at Bristol
Wallace led six laps, the first of his Cup Series career, before finishing 16th, still the high finish by any rookie in the field. The Joe Gibbs Racing driver and 2015 series champion won his seventh career Cup race at Bristol, most among active drivers.
FIFA Charges World Cup Host Russia for Fan Racism
The charge will be a concern to organisers of the World Cup, with the start of the competition in less than two months' time. StubHub said it fully complies with applicable laws and does not allow the resale of World Cup tickets.
Two global studies - a study of 150,000 consumers polled by Gallup for the World Bank for its Global Findex Database, and a survey of 5,200 consumers by the tech giant Oracle - found complementary trends in the use and adoption of digital banking.
In India three years ago, men were 20 percentage points more likely than women to have an account.
In India, for example, 42 per cent of male account owners use digital payments, while just 29 per cent of female account owners do, it said. This comes as a blow to the government, which has been taking many steps to increase financial inclusion, lower cash dependence and increase digital transactions. Digital public pension payments could reduce the number of unbanked adults in Europe and Central Asia by up to 20 million.
Progress was driven by India, where a government policy to increase financial inclusion through biometric identification pushed the share with an account up to 80 per cent, with big gains among women and poorer adults.
With approximately 60 million unbanked adults in Indonesia using mobile phones today, there is a massive opportunity for a greater penetration of mobile payments and transactions in Indonesia.
Apr 20 2018
Embiid not fully cleared but may still play
The pressure appeared to get to the Sixers as they shot 41.7 per cent, down from their 47 per cent during the regular season. What is interesting is that in Game 1, the Sixers had just four fast-break points, compared to 14 for the Heat .
Apr 20 2018
Stormy Daniels sketch is a nonexistent man
Daniels is challenging the validity of the agreement in court, saying Trump never signed it. Trump's having none of it: "A sketch years later about a nonexistent man".
Apr 20 2018
Khloe Kardashian sends love to Kourtney on her 39th birthday
Over on her Instagram page Kourtney took time out of her birthday celebrations to promote the collaboration. Both are also wearing one of the lip products from their collection.
Apr 19 2018
Turkish president calls snap elections for June
The AK Party holds 316 seats in parliament, the CHP holds 131, the MHP holds 36 and the Peoples' Democratic Party (HDP) holds 50. In addition, the president will be able to declare a state of emergency, a power now held by the government.
Apr 18 2018
Harley Quinn Movie Hires Female Director
Yan, whose feature-film debut Dead Pigs picked up an award at Sundance this year, beat out numerous contenders for the plum job. Warner Bros. has been hard at work on developing a slew of films based on DC properties over the past few years.
Apr 18 2018
Mourinho wants strong Manchester United finish to secure second place
Jose Mourinho has ruled out bringing in another striker this summer, with Manchester United already well-stocked up front. It has emerged though that Lukaku will likely play on Sunday against West Brom in the league.
Apr 17 2018
Don't delay: Tuesday is Tax Day
These basic tips are created to help people avoid common errors that could delay refunds or cause future tax problems. Do you have an IRS tax bill? If you try to file, and are missing a document, you can file for a six-month extension.
Apr 17 2018
Montenegro elects pro-West president Milo Djukanovic, projections show
He came under investigation and was indicted by prosecutors in the Italian city of Bari in 2008 for alleged tobacco smuggling. His main opponent is Mladen Bojanić, a businessman supported by several parties, including pro-Russian contingents.
Apr 16 2018
Carrie Underwood Shares First Up-Close Face Photo Since Accident
On Tuesday, Underwood lastly opened as much as her followers about her damage recovering in an open letter on her web site. A number of followers commented on the photograph and speculated it was a scar from her disastrous fall.
Apr 16 2018
Corbyn Questions Legal Basis for British Strikes in Syria
She added: "We agreed that it was both right and legal to take military action together with our closest allies". Clearly not when we are under attack or the Prime Minister has been kidnapped, or anything like that".
Apr 21 2018United Kingdom approach to Irish border issue 'ignores food concerns'
Apr 21 2018E. coli warning expands to all romaine lettuce
Apr 21 2018Natalie Portman snubs 'Jewish Nobel' in apparent protest against Israel
Apr 20 2018NFL To Announce 2018 Regular-Season Schedule On Thursday
Apr 20 2018Jeevitha Rajasekhar press meet, Counter to Sri Reddy and POW Sandhya
Apr 17 2018Police officer fatally shot while serving arrest warrant
Apr 16 2018Bucks match-up with injury-ridden Celtics in first round of playoffs
Apr 16 2018Trump says Syria strikes "perfectly executed", declares "Mission Accomplished!"
Apr 16 2018Congress' first candidates list out, Siddaramaiah to contest from Chamundeshwari
Apr 15 2018Colorado Senator Releases Statement On Marijuana Policy
Apr 21 2018Wenger's legacy at Arsenal 'untouchable' - Henry
Apr 21 2018Former Ohio State football coach Earle Bruce dies at age 87
Apr 20 2018'Homeland' Will End After Season 8, According To Claire Danes
Apr 19 2018Trump Attorney Michael Cohen's Secret 3rd Client
Apr 19 2018Tom Brady has yet to commit to playing '18 season for Pats
Apr 19 2018Neymar says he is confident he will play at the World Cup
Apr 18 2018Immunotherapy shows promise for lung cancer
Apr 18 2018OPCW chemical weapons inspectors enter Douma - Syrian state media
Apr 16 2018Athletic therapist dies after Humboldt bus crash, raising death toll to 16
Apr 15 2018Trump attorney is focus of 'monthslong' investigation into personal dealings
Apr 15 2018BioShock Revival Rumored To Be Underway At New "Top-Secret" 2K Studio
Apr 14 2018National Basketball Association playoffs preview: Who's playing who in the East and West