.........Rajan Mathews, director general of Cellular Operators of Association of India (COAI), the lobby body representing GSM mobile operators, said the RBI move would boost mobile banking services and financial inclusion, saying the “biggest deterrent to expansion of mobile payments“ so far has been their inability to offer cash-out transactions. “Though RBI's proposals don't allow telcos setting up banks to lend, we believe they will allow cash-out transactions, which I reckon can be a game-changer to boost mobile payments and financial in clusion in India as in Africa,“ he said. The cash-out facility, Mathews said, would enable a person who has deposited money with a mobile company to withdraw it at any location he wishes............
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