The global digital operator VEON last week announces that Mobilink Microfinance Bank Ltd. in Pakistan has signed up to the GSMA’s Connected Women Commitment Initiative set up to accelerate digital and financial inclusion for women.

Mumbai-based Svasti Microfinance has received $5 million through Non-Convertible Debentures from Singapore-based Impact Investment Exchange's Women's Livelihood Bond 5, the proceeds of which will go toward empowering women through income-generating activities.

Microsoft co-founder Bill Gates on Tuesday met Reserve Bank of India Governor Shaktikanta Das and discussed various issues including financial inclusion, payment systems, microfinance and digital lending among others.

The partnership will give the bank an opportunity to expand their digital outreach and bring the unbanked population into the financial ecosystem in an efficient manner.

By this intervention, the average income of women is expected to rise by at least 30 percent.

This strategic venture aims to empower the people of Pakistan with a financial solution that is secure, unique and ensures inclusion in the unbanked sector of Pakistan.

The implementation has enhanced India1 Payments current 11,000 ATMs with ACI’s latest technology, which has created capacity for expanding the ATM network in the coming years.

The award honors U Bank’s recent introduction of Shari’ah-compliant financial solutions in Pakistan and comes soon after U Bank’s full-scale commercial launch of Islamic Banking services nationwide.

The bKash feature will open up new avenues for people who are lagging behind in terms of financial inclusion and expedite digital transformation.

The proceeds from the bond will be dedicated exclusively to providing loans to female entrepreneurs in India.