..........The resounding success of M-Pesa demonstrated that the ubiquitous mobile technology offers considerable potential for lowering transaction costs and providing secure banking services to vast numbers of poor in the developing world. RBI estimates say that there are still many households that are to be banked. The burgeoning mobile money models in India target precisely this widespread need for alternative forms of saving for people who are unbanked. Among various such initiatives, EKO is an early mover. ...............
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