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The low-income group can now use mobile apps for banking in Digital India

By | August 3rd, 2016|Categories: Banking, Digital Inclusion|Tags: , , , , , |

In India, Pradhan Mantri Jan Dhan Yojana, our government’s national mission for financial inclusion’ has a good looking scorecard, two years after it was launched. With 22.6 Crore Accounts opened till date, 75% of the accounts being active, and a total balance of more than Rs. 40,000 Crore accumulated in banks under the scheme, we can [...]

Digital India, Missing in action – the sad state of mobile money in India

By | March 4th, 2015|Categories: Banking, Digital Inclusion|Tags: , , , , , , , |

We are so used to thinking of ‘New India’ as a vibrant, progressive economic giant, that we would find it hard to believe there are areas where we under-perform, compared to countries that are more financially and politically challenged than us. Mobile money plays an important role in financial inclusion. Bankers favour mobile transactions over cash [...]

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