Banks See New Charge in M-Banking

....In a country like India, where there are only 90,000 bank branches and banking services reach only about 40% of the population, the need to open more branches is compelling. Mobile banking, backed by a robust banking-correspondent architecture, overrides the need to set up more branches. “Mobile banking will help lot of customers who are financially excluded,” says Sabharwal. It also works for banks because a physical bank is expensive......

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