All posts tagged: financial inclusion

Number of Indian women with digital access doubled since 2021: Survey

Number of Indian women with digital access doubled since 2021: Survey

Published by Parlour News

New Delhi, The percentage of women who have used the internet at least once has nearly doubled from 33.3 per cent during the 2019-2021 period to 64.3 per cent in 2023-24, according to the sixth National Family Health Survey report released on Friday. Number of Indian women with digital access doubled since 2021: Survey The NFHS-5 for the 2019-2021 period had recorded that 33.3 per cent Indian women had used the internet at least once. This figure has doubled over the interim two-year period, suggesting a paradigm shift in digital accessibility among women. Women with banking or savings accounts have increased from 78.6 per cent in 2019-2021 to 89 per cent in 2023-24 , while women having a personal mobile phone rose from 53.9 per cent in 2019-2021 to 63.6 per cent in 2023-24, the data showed. The NFHS-6 records continued advancement in women’s digital inclusion and financial empowerment, the Union health ministry said. The use of hygienic methods of menstrual protection among women in 15-24 age group has increased from 77.6 per cent in …

Atal Pension Yojana crosses historic nine crore enrolments

Atal Pension Yojana crosses historic nine crore enrolments

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The Union government said on Wednesday that the Atal Pension Yojana (APY) has achieved a historic milestone by surpassing total gross enrolments of nine crore subscribers. Gross enrolments during the Financial Year 2025–26 crossed 1.35 crore subscribers, marking the highest-ever enrolments recorded in a single financial year since the inception of the scheme, according to a Finance Ministry statement. Launched on May 9, 2015, with the vision of establishing a universal social security system for all Indians, APY is a flagship social security scheme of the Union government, administered by the Pension Fund Regulatory and Development Authority (PFRDA). According to the Ministry, APY is designed to provide a `Sampurna Suraksha Kavach` (Complete Security Shield) by ensuring benefits like a guaranteed monthly pension ranging from Rs 1,000 to Rs 5,000 for subscribers after attaining 60 years of age. Also, same pension continues to the spouse after the subscriber`s demise and the return of the corpus accumulated till the age of 60, to the nominee after the death of both. The pension scheme is open to all …

Macron hails digital transformation of nation| India News

Macron hails digital transformation of nation| India News

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French President Emmanuel Macron lauded India’s digital transformation and its pioneering role in technology governance during his address at the India AI Impact Summit 2026 today, describing the nation’s progress as a global benchmark. France President Emmanuel Macron at the India AI Impact Summit 2026, in New Delhi. (PTI) Speaking at the summit, President Macron began by expressing his gratitude for the warm reception in India. “Namaste. Thank you very much for welcoming us to this magnificent city, in this magnificent country. It’s great to be back after my 2024 state visit for this Artificial Intelligence Impact Summit hosted by you, Prime Minister,” he said. The French President highlighted the profound social impact of India’s technological strides over the last decade. “10 years ago, a street vendor in Mumbai could not open a bank account. No address, no papers, no access and today the same vendor accepts payments on his phone,” he remarked, illustrating the scale of financial inclusion achieved through digital means. President Macron further emphasised that India has set a unique precedent that …

Japan’s MUFG Bank to invest Rs 39,000 crore in Shriram Finance for 20% stake | Business News

Japan’s MUFG Bank to invest Rs 39,000 crore in Shriram Finance for 20% stake | Business News

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In the single largest foreign direct investment (FDI) into an Indian financial services company, the board of Shriram Finance Ltd (SFL) has approved a proposal to raise Rs 39,618 crore ($4.4 billion) from Japan’s MUFG Bank Ltd through a preferential allotment of equity shares. This will give the Japanese lender a 20 per cent stake in SFL on a fully diluted basis. The transaction gives MUFG Bank, Japan’s largest bank, a strong foothold in the retail financial services in the country. Shriram Finance, which has a market capitalisation of Rs 1.69 lakh crore, reported a net profit of Rs 9,761 crore for FY25. This is the biggest investment by a Japanese bank in India after SMBC, part of the Sumitomo Mitsui Financial Group (SMFG), acquired a 20 per cent stake in Yes Bank for about Rs 13,483 crore (around $1.6 billion) in April 2024. The investment allows SMBC to raise its holding to 24.99 per cent without being classified as a promoter. With domestic growth constrained by prolonged low interest rates and an ageing population, …

WizzFinancial’s Unimoni Signs Strategic Partnership with Sahaj Retail Limited

WizzFinancial’s Unimoni Signs Strategic Partnership with Sahaj Retail Limited

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Kolkata, November 06th, 2025: WizzFinancial, a premier global fintech platform specializing in cross-border payments, digital wallets, and inclusive financial solutions, is thrilled to announce a landmark strategic partnership between Unimoni India, fully owned subsidiary of WizzFinancial with Sahaj Retail Limited – one of India’s largest and fastest-growing phygital rural retail networks. This alliance will leverage Sahaj’s extensive rural network – targeting over 350 thousand centres set to expand to 600 thousand across India—and the innovative capabilities of Wizz Voyager, Wizz UPI, and Wizz Wallet to bring affordable, accessible digital financial services directly to India’s underserved communities. Through this partnership, WizzFinancial and Sahaj will jointly facilitate and distribute a suite of financial products, including cross-border remittances, micro-lending, digital wallets, and UPI-enabled payments, creating new opportunities for economic inclusion and empowerment. By combining Sahaj’s village-level entrepreneurship model with Wizz’s corridor expertise in India, GCC, and the USA, both organizations will unlock prosperity for millions of individuals and businesses bridging these key global markets. This collaboration positions WizzFinancial in India at the forefront of digital transformation and financial …

Prepaid wallets keep women’s savings safe

Prepaid wallets keep women’s savings safe

Published by Parlour News

The Unified Payments Interface (UPI) has revolutionised financial inclusion by providing an accessible, affordable, and simple platform for digital payments, overcoming traditional banking barriers, especially for underserved populations. It also helps vulnerable populations – such as low-income women or women from rural or peri-urban areas – build a transaction history, thus bringing them onto the wide spectrum of digital financial services. Women empowerment (Voices of Youth) In India, the adoption of women’s mobile internet is rising (The Mobile Gender Gap Report 2023, GSMA). Coupled with the uptake in mobile services, UPI can be a key enabler of women’s financial inclusion, empowering millions economically and socially. Of the 536 million women in the age group of 15 years and older, 37% report using mobile internet (GSMA, 2024), making the addressable women’s market for internet-based UPI solutions 200 million strong. However, this market is not homogenous and has a unique set of barriers and motivators for using UPI. A cohort in this market segment is typical of women who are homemakers or informal workers (such as tuition …

PM Narendra Modi to inaugurate Grameen Bharat Mahotsav in Delhi today | Latest News India

PM Narendra Modi to inaugurate Grameen Bharat Mahotsav in Delhi today | Latest News India

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Prime Minister Narendra Modi will inaugurate Grameen Bharat Mahotsav 2025 on Saturday morning at Bharat Mandapam in Delhi. He will also address the gathering on the occasion. Prime Minister Narendra Modi. (PTI)(HT_PRINT) Celebrating Rural India’s entrepreneurial spirit and cultural heritage, the Mahotsav will be held from 4 to 9 January with the theme ‘Building a Resilient Rural India for a Viksit Bharat 2047’. The Mahotsav, through various discussions, workshops and masterclasses, aims to enhance rural infrastructure, create self-reliant economies, and foster innovation within rural communities. National Bank for Agriculture and Rural Development, under the aegis of Department of Financial Services, is organizing this mega conclave cum exhibition. Its objectives include promoting economic stability and financial security among rural populations, with a special focus on North-East India, by addressing financial inclusion and supporting sustainable agricultural practices. A significant focus of the Mahotsav will be to empower rural women through entrepreneurship; bring together government officials, thought leaders, rural entrepreneurs, artisans and stakeholders from diverse sectors to build a roadmap for collaborative and collective rural transformation; encourage discussions …

PM Modi shares key highlights of India’s transformative achievements in 2024

PM Modi shares key highlights of India’s transformative achievements in 2024

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Image Source : PTI PM Modi Prime Minister Narendra Modi, in a series of tweets marking the end of 2024, reflected on the significant strides made by India in various sectors over the past year. He emphasised the collective efforts that have led to transformative outcomes, expressing his resolve to work even harder in 2025 to realize the dream of a “Viksit Bharat” (Developed India). A year of progress and unity PM Modi described 2024 as a year of remarkable achievements, with India making substantial progress in multiple domains. The year witnessed unprecedented developments across rural electrification, financial inclusion, digital connectivity, and gender equality. Modi expressed pride in the unity and resilience shown by the nation, highlighting how India’s policies and initiatives have steadily transformed the country, especially in bridging the urban-rural divide. Rural development and empowerment Since the onset of Modi’s government in 2014, a key focus has been improving the lives of people in rural India. The Prime Minister highlighted several flagship schemes that have positively impacted rural areas, including the PM Jan …

‘Every Time I Think Of India, I Think Incredible India’: UNGA President Lauds Digital Infrastructure Progress

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Last Updated: April 07, 2024, 11:35 IST New York, United States of America (USA) UN General Assembly President Dennis Francis makes the opening statement of the Sustainable Development Goals (SDG) Summit 2023, at U.N. headquarters in New York City, New York, U.S., September 18, 2023. (Reuters) UN General Assembly President praises India’s digitalization efforts for financial inclusion and poverty reduction, highlighting its global potential UN General Assembly President Dennis Francis has lauded India’s use of digitalisation that has helped achieve financial inclusion and poverty reduction, underlining that this gives the country a “comparative advantage” and its lessons can be shared with the global community. “Let me say first of all that since I’ve been to India, every time I think of India, I think ‘Incredible India’. And I mean this in all earnest ….And I saw it when I was there. The specific example to which I can refer is India’s use of digitalisation,” Francis, President of the 78th session of the UN General Assembly, told PTI in an exclusive interview here. He referred to …