The Committee on Comprehensive Financial Services for Small Businesses and Low Income Households recommended developing a vertically differentiated banking structure, in which banks specialise in one or more of three functions- payments, credit delivery and retail deposit taking.
Note: You can know more about the model by reading the paper “The Pursuit of Complete Financial Inclusion: The KGFS Model in India” published by CGAP.
Since its introduction in 2010, IMPS based mobile banking transactions have been growing month on month reaching 3.5 Million monthly transactions in May 2014.
IFMR Capital recently closed its first ratings advisory with a leading NBFC in India.
Removing an earlier restriction that the Reserve Bank had placed on NBFCs, the RBI today has restored the permission for non-deposit taking NBFCs (NBFC-ND) to become Business Correspondents (BCs) to commercial banks, as recommended by the Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (CCFS).
In keeping with its mission of providing access to debt capital for financial enterprises serving the financially-excluded communities, IFMR Capital today announced India’s first collateralised bond obligation (CBO) – the IFMR CBO I of Rs 98 crore, comprising multi-issuer pooled non-convertible debentures.
Recently Bindu Ananth participated in a panel discussion as part of Network 18's "Change India: Experiments with Big Ideas" TV series.
Imagine you are a labourer in a village in Odisha and have painstakingly completed your Aadhaar formalities (for which you gave a proof of permanent address and your fingerprints).
IFMR Investment Managers Private Limited, the asset management company of IFMR Trust, has received approval from SEBI to launch IFMR FImpact Investment Fund (the Fund), the first scheme under its social venture fund registered under Category 1 of SEBI (AlF) Regulations, 2012.
Customers attempting to open a savings bank account in a scheduled commercial bank will no longer require to furnish proof of current address if the customer is staying at a location that does not correspond with that of his or her permanent address.
In all our research efforts, we strive to maintain an independent voice that speaks for the low-income household and household enterprises. Our ability to perform this function is significantly enhanced by our commitment to disseminate as a pure public good, all the intellectual capital that we create.
