This research explores the remittance options currently available to Indian migrant workers in Gujarat and recipient families in rural Orissa and Bihar. It also examines the benefits of a business correspondent remittance service.
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Multiple borrowing in the Philippines
To better understand multiple borrowing and its association with over indebtedness, MicroSave partnered with TSPI to study the phenomenon, which found strong evidence of multiple borrowing among urban-based women micro entrepreneurs.
Mobile Money In Pacific Islands 2
In this video Michael McCaffrey, Financial Inclusion Technical Specialist, Pacific Financial Inclusion Program (PFIP), talks about the design of a suite of products such as remittances, savings, and micro-insurance for low income people. Explaining it approaches, he says at the Macro level in alliance with Alliance for Financial Inclusion, they are developing policies and regulations to strengthen financial landscape in Pacific Islands. On micro-level, PFIP is working with service providers such as mobile operators and credit unions. On client side, PFIP is working with Australian agency to create national curriculum programme to incorporate financial education at school level.
Mobile Money In The Pacific Islands 1
In this video Michael McCaffrey, Financial Inclusion Technical Specialist, Pacific Financial Inclusion Program (PFIP), talks about the specific challenges of improving financial inclusion in remote island states. He shares the PFIP experience with mobile banking and explains how commercial banks can help improve the financial infrastructure. Michael notes that the needs of various island countries are different in terms of remittance, savings and credit products. He further highlights how mobile banking can offer this wide variety of services to such consumers.
Speculation on the Future of Financial Services for the Poor in India
In the long-term, as multiple products are offered across the mobile money platforms, this will revolutionise financial inclusion, and the poor will have access to savings, remittances, payments, insurance, individual cashflow-based loans and air time top-up, plus a host of other services through agents based with a few yards of their houses. It is the deepening of this relationship that will allow the banks to better manage credit risk, and thus begin to make small advances to customers on the basis of their savings/insurance histories. The stage in India is set for very significant change …
Mobile Banking: Focus on Savings
In this video Bob Christen, Director, Bill & Melinda Gates Foundation talks about the strategy of the Foundation in mobilising savings account for people who live on less than 2 dollars a day. Bob explains the various agent models that could support savings services. He says the successful mobilisation of small-scale savings requires dramatic reductions of transaction costs where mobile banking and electronic payment platforms play a central role. Talking about the opportunities ahead, Bob says many countries are thinking how banks can utilise retail networks to provide financial services and mobile phones is the way ahead.