The poverty rate in China has been in decline. According to the Vice Minister of Finance, Yu Weiping, it has reached its goal of poverty reduction by the end of 2020. Although they have succeeded in pulling a large chunk of their population out of extreme poverty, the present low-income sector is unable to fully … Read more
Microfinance is a form of microcredit that provides loans and financial support to various small enterprises and businesses for their growth and development. It has been proved in a study that around 1.6 billion people around the world are unbanked and without essential financial services. Most of the people falling in this group mostly belong … Read more
Microfinance is failing on many counts. A more comprehensive method must be developed for better financial inclusion. Latin America has successfully constructed a framework for better financial upliftment and inclusion framework for ushering in an era of prosperity. Collaborating with 41 microfinance institutions, Latin American countries are showing the path as to how outreach programs … Read more
This is very true that these days, almost everyone is addicted to their phones. No matter where you are, you will find most people on their phones, some playing games, some watching movies and some simply scrolling through their social media. The good thing about this is if you want to reach millions of people … Read more
We cannot deny the fact that mobiles have completely taken over. Now you can do everything through your phone, starting from watching movies, listening to music, and keeping a track of things to buying things, making payments, sending money, etc. We wake up from our phone’s alarm and sleep at night after scrolling through all … Read more
Mexico is a mixed economy developing country. It has a fairly stable economy and unlike other developing countries, over 70% of Mexico’s population falls in the urbanized sector with relatively easier access to physical banks and other financial service providers. Even after having such a huge population in Urban areas, the Mexican population has abstained … Read more
The Base of the Pyramid (BOP) is part of the economy that contains lower-income groups, especially, people from rural areas, with the least income. They consist of four billion people in extreme poverty. Various institutions have introduced measures like product innovation, to uplift the condition of the poor and their condition. Most of the big … Read more
The Success of Mobile Money platforms in other geographic locations has made Peru launch its mobile money platform Buy it Mobilility (BiM). This platform has around 30 major banking and telecommunication partners. With the help of this, a consumer can send money to a different account in a different bank, or you can send money … Read more
Most loan policies are formed in such a way that the needs of low-income people or people with unstable incomes are generally ignored. The loan policies need to be more flexible so that they can be more inclusive and can fulfill everyone’s needs. When it comes to loans, the biggest problem is the fixed repayment … Read more
Where microfinancing helps people to grow, corruption acts as a hurdle in their growth. Microfinancing means providing monetary help (small loans) to people in need. People can use this money to start their businesses or pay their bills. It is generally provided by banks or other microfinancing institutions. But corruption is everywhere. As per some … Read more
