Can mobile phones lead the way in bringing financial inclusion?Asked by Swathi Reddy on 21, Sep 2010 05:36 PM | Total Answers: (31)
Post your Reply
snapdeal cashback offers
snapdeal cashback ...See More Answered by snapdeal cash back offers | 28, Apr 2016 02:39 PM
mothers day sms 2016 ||
happy mothers day sms 2016 || ...See More Answered by Happy Mothers day SMS 2016 | 28, Apr 2016 01:27 PM
amazon india cashback offers
amazon cashback offers 2016 ...See More Answered by namo seo | 27, Apr 2016 05:46 PM
paytm cashback offers
paytm cashback offers 2016 ...See More Answered by paytm cashback offers , dfsd at dfdsfdsf | 27, Apr 2016 03:40 PM
Answered by ghuhu , vhvhbjbjb at http://ipl-2016.cricket | 09, Apr 2016 12:47 AM
Your blog was too good. i really appreciate with your blog.Thanks for sharing.
Kolkata Knight Riders Team Squad Captain Name
RCB New Players List
Kings XI Punjab New Jersey Logo Images
Answered by Brad | 22, Mar 2016 01:19 PM
- of course mobile can give more advantages by minimizing the cost, as well as to provide services for rural people. Answered by Abuelgasim G. Abdella , Agricultural Eng. at MOAI- Sudan | 04, Apr 2012 12:40 PM
RURAL ARIEA SOLER SMALL WIRLESS,POWER & ENERGY SUPPY DISTIC VENDAR, AGENCY,DISTURBER,.IN BIRBHUM WESTBENGAL.
TELE,COM, 3G,4G CSC APPLAYTION Answered by B , M at kcs pvt | 07, Dec 2010 05:29 PM
Yes with number portability,UID and other programs currently on it can become a effective tool for rural folk especially to be a part of larger banking domain.
However, regulations surrounding mobile banking should be relaxed to see the end results. Answered by GOPAL BENNURI , SALES GOVERNANCE at Barclays Bank Plc | 27, Oct 2010 03:11 PM
3 G Spectrum applications with with biometric access(as many rural poor are illiterate) can really be pocket banking units for receipts, payments and remittances for the Finacially Excluded.
They can provide remote access to the bank accounts.
Biometric Smart Cards which can store all Govt Financial Incentives with linkage to the Aadhar Number can be added advantage to ensure direct delivery of aid to the poor...
Mobile operators rather than phones can play significant role in this area.. Answered by Jagannath Rao J , Chief Manager at Bank of Maharashtra | 30, Sep 2010 10:23 PM
It is revolutionary good idea, but we have to see that 1) it is secured system. 2) Educate mobile users for using system. 3) Improve the on line banking technology and make it user friendly. 4) popularize on line banking. 5) Avoid frauds.
As this will be net base automatic system it will reduce manual work resulting unemployment or will reduce fresh opportunities in the banking sector it has to be properly thought . Answered by PARSO SUKHEJA , ADVOCATE at PENSIONER | 25, Sep 2010 04:50 PM
- Yes, but if the techbology via Mobile Banking, E banking is made user friendly and updated from time to time , in order to suit the custom requirements of the market, including the niche as well. Answered by Anuj Dureja , Assistant Manager at A reputed employer | 25, Sep 2010 07:41 AM
Mobile phones, e4m or f4m, nothing is gonna work, as far as financial inclusion is concerned. The govt has different plans altogether and nobody need overwork their brains (and get baffled) in this regard. Read the two news items below:
1. Two of the Government's most ambitious schemes--the financial inclusion plan of catering to the unbanked population and the Nandan Nilenkani-headed UID project will be integrated for better benefits to the people.
...See More Answered by Sooraj Kumar P.M. | 24, Sep 2010 04:43 PM
- yes, mobile banking is very powerful media.along with salary credit bank can serve for monthly a/c balance updation,any debit/credit in a/c immediate updation(facility is avaliable but only preferred customer),EMI payment and many more................ Answered by minal prabhu | 24, Sep 2010 08:36 AM
create an incentive ..........
if i buy arailway ticket through mobile
if i pay my school fees through a mobile ..
or any such thing ,,...... let there be 20 percent discount.
mobile isage will spread like anything Answered by shanker pai , founder president at MAKE-A-WILL FOUNDATION | 24, Sep 2010 12:56 AM
Yes. I have long back suggested a viable alternative for inclusive finance of common man in the lower economic strata using Electronic Mobile Money Management Machanism which I termed as e4m technology..
The proposal is based on a totally different out look to bring micro finance banking service closer to common people in the lower economic strata, not only in rural but also in urban and semi urban areas.
...See More Answered by Abraham Paul , MD at FCOMNET - Futuregroups | 23, Sep 2010 04:50 PM
- Surely Yes...the penetration of mobile phones is 65% into the total population of India and is the ONLY market for mobile phones across the world. As majority of the population which is the target segment for financial inclusion is either illiterate or may not have the adequate knowledge levels for regular banking, mobile platform is an ideal solution to address this issue. Though biometric based tech platform can be used but the usage levels are pretty low as on date. Given this scenario, it is advisable to explore the options of using the mobile platform and get into financial inclusion. Just for your info, some of the business correspondents are already using this platform, though in a smaller way...but surely mobile platform ...See More Answered by Bharath Sondur , National Head - Sales, Retail Liabilities Business at Janalakshmi Financial Services | 23, Sep 2010 12:15 PM
- Banking depends on the communication plat form. Earlier, paper based communication was the sole mode of communication. Today, people are used to mobile. Banking needs to use the same for allowing transactions and also for information flow. Security issues to be addressed properly. Once the infrastructure is in place, then branch less banking will be the order of day. This will pave way for financial inclusion. Two basic requirements are, making available mobile phones to every citizen and little education on how to use and security issues. No great education is required. Have we not seen so many illiterate doing such a wonderful arts and crafts. Mobile using solar power will eliminate need to have rechargers. Why ...See More Answered by NAGARAJ H N , Deputy General Manager at State Bank Of Mysore | 23, Sep 2010 07:24 AM
1) Mobile phone penetration has certainly given hope of bringing in financial inclusion.
2) Mobile phones and related 'walets' in a small way can address the 'last mile connectivity' challenge
3) Mobile phones alone can not solve this problem. It just becomes another channel. It is suitable for certain account maintaining transactions.
But the real challenge in financial inclusion is not only the reach (which is provided by mobile phones), but also the viable and sustainable business model. Answered by Rajan Chandrashekharan , General Manager - Risk Management and Financial Inclusion at IBM India Private Limited | 22, Sep 2010 05:21 PM
- Looking at the penetration now in India we can look at simplifying banking through mobile but this will also require lot of due deligence and also the security level needs to be high to avoid unnecessary exposure to risk and other regulatory norms Answered by NITIN SAMVEDI , CBM at ICICI Bank Limited | 22, Sep 2010 12:11 PM
Am amazed at the question???
Mobile phones are one of the modern days' powerful
and live add on and aids.
So it can lead the way if you design
your campaign accordingly!!!
Swathi Ji Answered by Narasimhan Brig Retd S L | 22, Sep 2010 11:30 AM
- A truly thoughtâ€“provoking question but that is what every technological innovation has posed for the past so many decades. For example, when ATM was invented bankers thought that that could replace full-fledged banks and facilitate banking services. Since then till the dot.com boom-and-bust-episode people thought a dot.com banking company, without any brick-and-mortar presence, could bring about a paradigm shift in the way banking is done. Today, we have mobile commerce and banking. Alas! There are limitations in the usage of mobile phones in carrying all banking / financial services transactions, unless of course we are talking about an entire population beginning to use a Blackberry or a Nokia Communicator or such other ...See More Answered by Santosh Nair , Assistant Professor - Corporate Finance at Kohinoor Business School & Center for Management Research | 22, Sep 2010 11:20 AM
- Certainly yes, in such a technology advanced time, one has no time to even open their internet and laptop, this is also acceptable substitute to include financials through mobile phone and with all security measure on dot very each to reach to a mass of people. Answered by Gopalsinh Zala , General Manager at tirupati group | 22, Sep 2010 10:13 AM
- The mobile banking is the future way of banking in the modern world. The mobile is now available to almost every individual and when banking services will be full felged available in it then everyone can do banking with their finger tips. Answered by Aniruddha Goswami , Branch Operations Manager at ICICI Bank Limited | 22, Sep 2010 06:27 AM
- Yes Answered by sachin tulsyan , Assistant Vice President at Ladderup Corporate Advisory private Limited | 21, Sep 2010 11:34 PM
- Mobile technology is future in Indian banking. RBI has sactioned Cash @ POS and leading banks are making initiative to encash the same in financial inclusion. Any transaction on mobile is being piloted at POS and can be extended in future course. May be down 5 years mobile phones will lead the way in financial inclusion. Answered by Amarnath N C , Regional Head - Cards at Axis Bank Limited | 21, Sep 2010 11:13 PM
- Mobile phones have immense potential to expand the reach of banking. But it is doubtful that it can be of any help in bringing about financial inclusion for the poor, in India. 70% of our people are poor and poverty is dominant in rural areas. Financial inclusion aims at bringing into the fold of banking, all those people who have been ironically left out of the India Growth Story, despite all the economic reforms since the 90s. The trickle down effect of the unprecedented growth story has failed to take effect, so far. Every year one name gets added to the list of worlds' richest men from India. On the other hand farmers commit suicide every year, including this year. There are a number of starvation deaths reported from far off ...See More Answered by Sooraj Kumar P.M. | 21, Sep 2010 11:11 PM
- If Unique Security System could be build,then we sure can have a chance of designing Digital Currency around this very simple device and might be able to eradicate corruption through transparency. Answered by chandra pathak , secretary at upmsra | 21, Sep 2010 09:28 PM
- yes of course.you can see a person without bank account too but not with mobile phones.thats why,in a country like india there are lot of mobile providers giving lot of offers and promotions so if bank can utilize the mobile providers they can attain the goal by reaching the customers with ease. Answered by Guru prasad Moorthy Rao , Sales Manager at ING Vysya Life Insurance Company Pvt. Ltd | 21, Sep 2010 07:37 PM
- There are more mobile subscribers than bank accounts hence I think this will be a very innovative way for financial inclusion Answered by Yezdi Daruvala , Insurance Adviser at SBI Life Insurance Company Ltd | 21, Sep 2010 07:09 PM
- It is very difficult to answer at this point; since mobile penetration is still city / metro centric. To enable financial inclusion, mobile capabilities / affordability is to be ensured. Though now mobiles have become cheaper, cost of service providers is still costly for many. Rural mobile infrastructure is first to be created on a full-fledged scale, strengthened pan-India and then talk about mobile banking etc, to bring about financial inclusion. Governmental effort towards this goal is a huge task and highly cost-prohibitive. If one is thinking about PPP or a simple private operator model, the service will become highly unreachable to the rural mass, who even now finds it difficult to make both ends meet Answered by Ramaseshan Parameswaran , AVP at Financial Services | 21, Sep 2010 06:11 PM
I think at this point this is fationable idea to use mobile phones for banking directly, till date online banking user are very less in cities, not comfortable with this instruments and not very confident also, Physical or direct contact with banking people will boost financial inclusion and also rural women are not using mobile phones that are our real customers and also english language are obstacal in it regional langauages are not commenenly use in mobile phones , so let us go to every villege and start financial inclusion next stage will be technology like mobile phones
. Commented by Ganesh Kalaskar, Business Facilitator at State Bank Of India (SBI) | 2222 days ago
To participate in the discussions and to share your thoughts Join PeerPower Now >>
Hot on Discussion Board
With the successors to iconic industry leaders like Ratan Tata, N R Narayana Murthy and others all under debate, is India Inc facing a crisis in leadership? Should CAG be allowed to audit private telcos' book? Does crowdsourcing generate brand engagement or devalue the brand? Is there a right time for internal brand management or is it an on-going process? Can Google Instant have severe impact on SEO business? Do consumers fail to connect when celeberities endorse too many brands? Do you think the GDP growth numbers are sustainable? Should a performance based pay scheme be introduced for MPs?