Women & Banking: India’s financial inclusion suffers from a gender gap
Indian women score disproportionately low on ordinary functions such as savings and borrowings: of more than three-fourths who have a bank account, less than a fifth (16.7%) save formally, i.e., at banks.

The World Bank recently published the results of its The 2017 Global Findex database, the third in the series from 2011. Findex surveys provide valuable information on financial inclusion and behaviours across countries. For India, the acceleration in account ownership (Jan Dhan Yojana) has already been highlighted, as has the extremely low utilisation: 80% Indian adults now have a bank account—27 points higher than the 53% estimated in Findex 2014 round, which showed 17 points addition to the 2011measure (35%). The fast progress is accompanied by higher inactivity as 48% of accounts saw no deposits or withdrawals in 2017, compared to 44% in 2014. This gap in access and usage is even more telling for females, where evidence indicates inclusion policies providing entry to formal finance fail to bridge gender inequalities, for which specific, broader intervention efforts are needed….

Abundant global evidence about low female presence in formal financial markets has spurred international efforts for improvement, acquiring developmental focus at various forums. Financial inclusion of women was specifically integrated into the G20’s global development agenda (2012) and features in its action plan to achieve its commitment to reduce the gender workforce participation gap by 25% by 2025 (25 by 25); it figures indirectly in gender equality and female empowerment goals of the UN’s Sustainable Development Goals; while the World Bank and IMF have actively gathered evidence and promoted research to help formulate appropriate policies in recent years…. financialexpress.com

It’s no coincidence that movies like “Wall Street” and “Wolf of Wall Street” paint the finance industry as testosterone laden, especially on the trading floor of the New York Stock Exchange. While the U.S. financial services industry employs many women, according to a recent survey conducted by Catalyst, representation in financial services senior leadership roles remains low. Women made up only 35.9 percent of CEOs and executive level positions of Fortune 500 companies…..The Global Gender Gap Report 2 017

As CEO of the Global Fund for Women, Musimbi Kanyoro works to support women and their ideas so they can expand and grow. She introduces us to the Maragoli concept of “isirika” — a pragmatic way of life that embraces the mutual responsibility to care for one another — something she sees women practicing all over the world. And she calls for those who have more to give more to people working to improve their communities. “Imagine what it would look like if you embraced isirika and made it your default,” Kanyoro says. “What could we achieve for each other? For humanity?” Let’s find out — together.

About the speaker
Musimbi Kanyoro · Women’s rights activist

Dr. Musimbi Kanyoro is globally recognized for her leadership of organizations and initiatives that advance health, development, human rights and philanthropy for communities, specifically for women and girls.

1. 10 Reasons to Invest in Women and Girls

1. More inclusive government. If you’d like to see less fighting among your elected officials, encourage women to run for public office. According to USAID, countries where women hold at least 30 percent of political seats are more inclusive, egalitarian and democratic.

2. Improved public service delivery. The next time you’re frustrated by poor roads or a lack of potable water, vote for a woman. USAID reports that women’s political participation increases cooperation across party and ethnic lines and government responsiveness to citizens.

3. Greater farm production. The UN’s Food and Agricultural Organization found that by empowering women farmers with the same access to land, new technologies and capital as men, crop yields could be increased by as much as 30 percent.

4. Fewer hungry people. When women succeed, society succeeds. Nowhere is that more clear than in food production. In that same report, the Food and Agricultural Organization estimates that a 30 percent boost in production can reduce the number of hungry people by 150 million.

5. Increased buying power. As the World Bank’s chief economist, Lawrence Summers said, “Investment in girls’ education may well be the highest return investment available in the developing world.” Each year of secondary school boosts a girl’s future earning power by roughly 20 percent.

6. Stronger economies. Educating a girl pays dividends for her family and her country, too. According to USAID, when 10 percent more girls go to school, a country’s GDP increases on average by 3 percent.

7. Fewer child deaths. Women who are educated are better able to take care of themselves and their children. According to UNESCO, a child born to a mother who can read is 50 percent more likely to live past age five.

8. Less HIV/AIDS. For UNICEF, education is essential to slowing the spread of HIV/AIDS. That’s because girls who are better educated are less likely to engage in casual sex.

9. Fewer conflicts. When women’s lives are valued, their experiences considered and their voices heard, better outcomes prevail. Through its peacekeeping operations, the UN has found that when women are included, deadly conflicts can be avoided.

10. More lasting peace. Women have an important role to play in driving reconciliation and reconstruction. According to the UN, including women in conflict negotiation and peacebuilding efforts can lead to more widely accepted and durable peace agreements…Young African Leaders Initiative

Latest since Edward Snowden we know we have to protect our data.

Big Data could mean big business also for retailers.

Christian Baumann reports: Today’s retailers know their customer better than ever before.  They understand who they are, what they buy, when they buy, how they like to pay, and what they think of a product or brand. Every customer visit and touch point, be it in the store, online or on a mobile device, produces a stream of data for the retailers to explore.

Big data analytics has become a vital tool in all aspects of the retail sector and offers incredible customer insight and understanding for retailers to explore in order to make their business more transparent and commercially successful…Globalbankingandfinance
YouTube is improperly collecting children’s data, consumer groups say
Beyond Facebook: It’s High Time for Stronger Privacy Laws

Data protection in the EU

Fundamental rights data-protection- EU
The EU Charter of Fundamental Rights stipulates that EU citizens have the right to protection of their personal data.

Rodrigo de Matos
www.w-t-w.org/en/rodrigo-de-matos/

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