Thread: Rural M-Banking To Be National Priority

Manmohan Singh, the prime minister of India, has asked the Department of Telecom to set up a committee to study facets of mobile banking in order to launch services in rural India. Authentication norms, know-your-customer norms and best practices will be part of the study. The financial inclusion project is all set to become a national priority and the pilot project will bring financial services over the mobile medium to select villages by 2012.
News Digest: Docomo,Telecordia, Adlabs, M-Banking, Nilekani, AccessKenya, Sun Direct, Kerala, Bharti, NDS | MediaNama

In many parts of Rural India, even basic banking is a distant dream.
I hae seen many such places with posters like
"keep money in post office - its always safer" or
"keep money in bank, its better than the sahukar" etc.

Rural banking of many district regions is being uplifted. There were many irrational practices of exploiting farmers from the rural region by providing them interest loans for farming. Banking in these location can will change the monetary functioning of the rural areas.