Monday, July 16, 2012

Mobile banking transactions rise five-fold in Jan-May

............The RBI has identified mobile banking as a key tool to achieve the goal of financial inclusion. With a large unbanked population spread across the country, a brick-and-mortar approach to providing banking services is not feasible. In this regard, offering banking services through mobiles — with 929 million subscribers — is seen as a viable option for coverage of the entire population under the banking system.

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