synergies across the layers of the Stack. Until recently, a large share of India's population lacked access to formal banking …

The literature on the economic effects of electronic money and banking lacks organization and a common analytical … framework. This paper identifies the main issues raised by e-money and e-banking and presents them as six puzzles. Our solutions … to the puzzles build a framework for analyzing the effects of e-money and e-banking, and for choosing the appropriate …

and Regulation Division during January-April 2006. The authors are grateful to Jonathan Fiechter, David Marston, and …

. Growing linkages between microfinance institutions and the banking system and the dissemination of good practices by … microfinance sector in Africa. The paper supports the view that microfinance institutions, especially those engaged in full … financial intermediation, complement effectively the banking sector in extending financial services and successfully draw on the …

Many governments and nongovernmental organizations have adopted policies to promote the growth of microfinance … MFI characteristics. Governments are also responsible for the regulation of MFIs; here, some principles concerning the … extent and coverage of MFI regulation and supervision are developed …

, such as encouraging banking competition or channeling government payments through bank accounts, play an important role …

Capital adequacy regulations or quantity restrictions on bank portfolios put forward by the Basle Committee on Banking … Supervision have virtually become an international standard of prudential regulation. Recent proposals aim at extending this …