Jan 2018

  • MicroSave Signs SoI with NITI Aayog

    New Delhi, India: January 18, 2018, several leading online news agencies covered the signing of Statement of Intent (SoI) between NITI Aayog and MicroSave. The signing took place in the presence of Anna Roy, Adviser, Data Management and Analysis and Industries, NITI Aayog and Puneet Chopra, Associate Director, MicroSave. The signing of the statement flags off a collaboration on digital transformation and innovations across sectors.
    The potential areas of collaboration between MicroSave and NITI Aayog were identified as smart agriculture, digitising agriculture value chains and access to markets, digital payments, digitisation of direct benefit transfers (DBT) in food, fertilizer, fuel such as LPG and kerosene, among others.
    While signing the SoI, Anna Roy mentioned that “this partnership with MicroSave will help identify potential areas to create transformative economic impact. NITI Aayog had taken several innovative initiatives to advance the government's goal of promoting digital payments. Programs like DigiDhan campaigns, the BHIM app promotion, and cashless townships have created increased awareness across the country for adopting digital modes in financial transactions. NITI now intends to utilise this base to enable transformation in the economic spheres. NITI Aayog intends to explore ways to support the creation of greater economic activity streams and increased productivity".
    In his address while signing the SoI, Puneet Chopra stated that “It is an honour and a privilege to collaborate with NITI Aayog, a premier think-tank of the Government of India. In collaboration with NITI Aayog, we aspire to catalyse, accelerate, and scale the impact digital transformation for the weaker and the excluded segments, and also scale the benefits from it.” Read the full coverage here – ANI, Business Standard, OutlookIndia, WebIndia123

  • MetLife Foundation – MicroSave Collaboration Accelerates Digital Financial Inclusion in Bangladesh

    Mr. Arfan Ali, President & Managing Director, Bank Asia, and Ms. Humaira Islam,  Founder & Executive Director, Shakti Foundation led the signing ceremony at the head office of Shakti Foundation in Dhaka, Bangladesh. 
    Dhaka, Bangladesh: MetLife Foundation and MicroSave recently facilitated a partnership between Bank Asia Limited and Shakti Foundation under the ‘Digital Financial Inclusion’ project. The project aims to digitise various micro-credit transactions, such as loan disbursement, repayment, and savings deposit of Shakti beneficiaries through the agent banking network of Bank Asia. Under this partnership, the nationwide branch network of Shakti Foundation will also act as the agent network for Bank Asia. 
    Ms. Humaira Islam, Founder & Executive Director, Shakti Foundation and Mr. Arfan Ali, President & Managing Director, Bank Asia led the signing ceremony at the head office of Shakti Foundation in Dhaka. Also present at the event were Mr. Ravi Kant and Mr. Jakirul Islam from MicroSave, alongside senior officials from Bank Asia and Shakti Foundation, namely, Ms. Humaira Azam, Deputy Managing Director, Bank Asia; Mr. Mahfuzur Rashid, Deputy Executive Director, Shakti Foundation; and Mr. Imran Ahmed, Consultant, Shakti Foundation. 
    Bank Asia Limited is a leading agent banking provider in Bangladesh while Shakti Foundation is an eminent microfinance institution that works for disadvantaged women in the country.

  • MicroSave’s Study on DBT in Fertiliser Receives Wide Media Coverage

    A study by MicroSave, on DBT (direct benefit transfer) in fertiliser revealed that 59 per cent of farmers were in favour of linking Aadhaar to the sale of highly subsidised fertilisers. MicroSave conducted the study across 14 districts in Maharashtra, Haryana, Karnataka, Andhra Pradesh, Madhya Pradesh, and Telangana between July and September, 2017.

    Associate Director and Head of Digital Financial Services (Government and Social Impact) at MicroSave, Mitul Thapliyal, spoke to The Times of India in this context. Mitul noted that sentiments of farmers were similar to what we observed during demonetisation. They were getting inconvenienced but willing to stand in long lines as Aadhaar based authentication is expected to reduce diversion of fertiliser and improve availability. Mitul added that demonetisation was transient but buying fertiliser through Aadhaar authentication is going to be a regular affair. So, steps must be taken to reduce authentication time.
    Click here to read the news article.

  • Graham’s Blog on Banking & Financial Post! Download and Read!

    New Delhi, India, 11th January 2018: The Banking & Financial Post, a leading fortnightly online magazine, published a recent blog authored by Graham Wright, Group Managing Director of MicroSave. Titled Can Fintech Really Deliver On Its Promise For Financial Inclusion?, the blog takes an in-depth look at why fintech in its current form may be largely irrelevant for mass markets.
    In the blog, Graham states how inadequate infrastructure, few smartphones, and the oral nature of communication of rural customers have had an impact on the uptake of digital financial services for the mass markets. Fintech is irrelevant for most villagers because providers have made little effort to tailor interfaces or use-cases for the low-income market. The vast majority of fintech providers continue to develop solutions for the affluent and middle classes. Graham is sure that fintech can indeed deliver on its promise, and explains how in The Clear Blue Water on the Other Side of the Digital Divide.
    The Banking & Financial Post is a bimonthly magazine that reports key trends and in-depth analysis in banking, financial services, and insurance (BFSI) sectors. It covers all aspects of the sector – from major challenges in the growth of the sector to new technological advances. Read the entire blog here.