{"id":71051,"date":"2026-07-23T18:03:03","date_gmt":"2026-07-23T10:03:03","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=71051"},"modified":"2026-07-23T18:03:03","modified_gmt":"2026-07-23T10:03:03","slug":"a-shadow-bank-hiding-in-singapores-little-india-casts-light-on-financial-services-gap","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=71051","title":{"rendered":"A &#8216;shadow bank&#8217; hiding in Singapore&#8217;s Little India casts light on financial services gap"},"content":{"rendered":"<p><br \/>\n<\/p>\n<p data-testid=\"article-description\">The challenge then is to work out how to cut needless friction in the system without weakening safeguards<\/p>\n<div data-testid=\"article-body-container\">\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">\u200b[SINGAPORE] In a rented room above Norris Road in Singapore\u2019s Little India district, a man named Raju Krishnamoorthi quietly processed more than S$28 million in just three months, from February to April 2025.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6\" data-testid=\"article-paragraph-component\">But Raju was neither a high-flying banker nor a financial technology entrepreneur with a slick digital app. What he had was a simple business model: migrant workers wanted to send cash back to the sub-continent, and Raju would help them do this.<\/p>\n<p class=\"whitespace-pre-wrap break-words mb-4 md:mb-6 inline-block\" data-testid=\"article-paragraph-component\">Working for a man known as Syed, Raju earned a modest S$1,500 a month to act as the human face of a money remittance syndicate.<\/p>\n<\/div>\n<p><br \/>\n<center><br \/>\n<br \/><a href=\"https:\/\/www.businesstimes.com.sg\/opinion-features\/shadow-bank-hiding-singapores-little-india-casts-light-financial-services-gap\" target=\"_blank\" rel=\"noopener\">Read Full Article At Source <\/a><br \/>\n<center\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The challenge then is to work out how to cut needless friction in the system without weakening safeguards \u200b[SINGAPORE] In a rented room above Norris&#8230;<\/p>\n","protected":false},"author":1,"featured_media":71052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-71051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/71051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71051"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/71051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/71052"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}