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Anand, Mohit
- Reverse Innovation in Financial Inclusion - Lessons from Developing Economies
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Authors
Affiliations
1 International Business and Strategy (EM Lyon Business School), IN
2 FORE School of Management, Alumni, IN
1 International Business and Strategy (EM Lyon Business School), IN
2 FORE School of Management, Alumni, IN
Source
The Microfinance Review, Vol 10, No 1 (2018), Pagination: 64-75Abstract
Within the overarching theme of reverse innovation and financial inclusion, our paper studies the financial inclusion model of three developing countries such as Kenya, Mexico and Brazil and analyses how the same could be reengineered in the Indian scenario through ‘The Pradhan Mantri Jan Dhan Yojana’ (PMJDY). The study reflects on the key challenges posited by this initiative and suggests key learnings and the way forward for PMJDY by comparing it with three financial inclusion models, namely, M-PESA Model (Kenya), Banking Agent Model (Mexico) and the Bolsa Familia Program (Brazil). The paper concludes by giving recommendations to improve the PMJDY scheme that will eventually further the mission of financial inclusion in India.Keywords
Financial Inclusion, Pradhan Mantri Jan Dhan Yojana, Developing Markets.
References
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- Demirgüç-Kunt A and L Klapper (2012): Measuring Financial Inclusion: The Gobal Findex Database, World Bank Policy Research Working Paper 6025, World Bank, Washington D C.
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- Lindert, K, A Linder, J Hobbs and De la Brière Benedicte (2007): The Nuts and Bolts of Brazil’s BolsaFamília Program: Implementing Conditional Cash Transfers in a Decentralised Context, Social Protection Discussion Paper No 709, The World Bank, Washington D C.
- MasterCard (2014): Electronic Payments Driving Largest Financial Inclusion Program in Mexico, Press Release 18 September, 2014, Accessed from http://newsroom. mastercard.com/press-releases/electronic-payments-driving-largest-financialinclusionprogram-mexico/ on 13 September, 2017.
- Ministry of Social Development (2015): Government of Brazil on Bolsa Familia: How It Works? (Translated from Portuguese), Accessed from http://mds.gov.br/assuntos/ bolsa-familia/o-que-e/como-funciona on 28 October, 2017.
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- World Bank (2014a): Global Financial Inclusion (Global Findex) Database, Accessed from http://www.worldbank.org/globalfindex on 23 November 2017.
- World Bank (2014b): Global Financial Development Report 2014: Financial Inclusion, World Bank, Washington D. C., Accessed from https://openknowledge.worldbank. org/bitstream/handle/10986/16238/9780821399859.pdf on 23 November 2017.
- The Role of Digital Financial Services in Improving Financial Inclusion in Sub- Saharan Africa
Abstract Views :124 |
PDF Views:0
Authors
Affiliations
1 Associate Professor, EM LYON Business School, France, FR
2 Research Assistant, EM LYON Business School, France, FR
3 Research Assistant, EM LYON Business School, France, FR
1 Associate Professor, EM LYON Business School, France, FR
2 Research Assistant, EM LYON Business School, France, FR
3 Research Assistant, EM LYON Business School, France, FR
Source
The Microfinance Review, Vol 13, No 1 (2021), Pagination: 51-64Abstract
Over the past two decades, the use of information and communication technology (ICT) has led to greater penetration of financial products and services in un-served and underserved regions of the world. Based on a comprehensive literature review, this paper traces the evolution of digital financial services (DFS) in the Sub- Saharan Africa, a region with low financial inclusion, and the impact of DFS on financial inclusion. It also compares the pertinent indicators of financial inclusion between Sub- Saharan Africa and the rest of the world, and also discusses the four stages of the DFS market development framework.Keywords
Financial Inclusion, Digital Financial Services, Sub-saharan AfricaReferences
- Advans Group (2019): Microfinance Barometer 2019 – Convergences, No. 10, p.13.
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- Demirguc-Kunt, A, and L Klapper (2012): Financial Inclusion in Africa: An Overview, Policy Research Working Paper 6088, World Bank, Washington DC.
- Demirguc-Kunt, A, L Klapper, D Singer, S Ansar and J Hess (2018): Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution, World Bank, Washington DC.
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- GSMA (2020a): The Mobile Economy Sub-Saharan Africa 2020, GSMA Intelligence, London.
- GSMA (2020b): Mobile Internet Connectivity 2020 Sub-Saharan Africa Factsheet, The Mobile Connectivity Index, GSMA Intelligence, London.
- Guerin, I (2019): “Microfinance and Financial Inclusion”, Microfinance Barometer 2019 – Convergences, p.11.
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- International Monetary Fund (2020): Digitalising Sub-Saharan Africa: Hopes and Hurdles, IMF, Washington DC.
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- Smit, H, C Denoon-Stevens and A Esser (2017): Insurtech for development - A review of insurance technologies in Africa, Asia and Latin America, Research Study, Cenfri, Bellville.
- Sykes, J, S Elder, Y Gurbuzer and M Principi (2016): Exploring the linkages between youth financial inclusion and job creation: Evidence from the ILO school-to-work transition surveys, Work4Youth Publication Series No. 42, Youth Employment Programme, Employment Policy Department, International Labour Office, Geneva.
- UNCDF (2017): Demand-Side Research for Youth Financial Services in the Gambia, Report, United Nations Capital Development Fund, New York.
- UNCDF (2020): Five Years of Market Development in Benin, Senegal and Zambia (2015-2019), UNCDF and Mastercard Foundation, New York.
- UNCTAD (2019): Digital Economy Report 2019 - Value Creation and Capture: Implications for Developing Countries, United Nations Conference on Trade and Development, Geneva.
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- World Bank (2020): Digital Financial Services, World Bank Group, Washington DC.
- Wright, G (2019): “Microfinance digitalisation: risk or opportunity?”, Special Report on A look back at 10 years of microfinance, Microfinance Barometer 2019, Convergences, p.12.
- Zins, A and L Weill (2016): “The determinants of financial inclusion in Africa”, Review of Development Finance, Vol. 6, No. 1, pp. 46-57.