A Sunrise Industry Coming up in West Delhi’s Uttam Nagarby Joseph Bornstein, NextBillion.net - Development Through Enterprise - Microfinance on Jun 27, 2008New Delhi: Shyama Kumari has a new-found sense of confidence. The 20-year-old college goer taught part-time at a local school for two years and saved Rs8,000, which she has put in a bank account. Her banker? The local drug store. Uttam Nagar is home to India’s first experiment of some scale in what is called mobile phone banking that allows customers to transact with their bank through their cellular phones. Advocates of the technology cheer the possibilities both from the view of potential customers untouched by the banking system yet and from the perspective of banks for whom such a channel reduces costs by as much as half. Continue reading.
Be the first to comment on this article.
Add a commentPlease do not include any advertisements or offensive material. cancel |
