|
New Delhi, Jan 18 - A sub-group has been formed by an inter-ministerial group (IMG) for preparing a draft framework for providing basic financial services through mobile phones.
The sub-group will comprise representatives from the unique Identification Authority of India, National Payments Corporation of India, and Department of Information Technology among others.
The draft framework will focus on three broad shareable elements identified by the IMG, consult various stakeholders and seek specific inputs from other IMG members when required, an official statement said here today.
The sub-group is expected to submit the draft framework by next month.
The IMG was constituted to enable finalisation of a framework for delivering basic financial services through mobile phones.
The IMG has identified three shareable elements -- knowing the customer, infrastructure component (including human resources involved) for 'cash-in' and 'cash-out' operations at the village/local level; and facilitating management of large number of small-value accounts and micro-transactions involved in the delivery of basic financial services.
With the rural mobile base growing at an exponential rate, a system for providing basic financial services through an individual's mobile phone could be a major step in reaching out to the unbanked sections.
» No Comments
There are no comments up to now.
» Post Comment
|
