Forbes/by Tom Groenfeldt
Mobile phones are a key way to expand financial inclusion to rural areas across emerging markets, as M-Pesa has demonstrated in Kenya. In India, Adarsh Credit Co-operative Society reaches one million members through 800 branches and more than 100,000 financial
advisors who travel through villages taking deposits or disbursing money by linking to the bank through their mobile phones.
"The advisors are like walking ATMs where customers can deposit cash or get cash,” said Philips Eapen, an SAP business manager in Mumbai. "They do online and electronic banking and work primarily in rural areas, among the lowest strata of the population who
don’t have access to financial institutions.” The amounts customers lend or deposit can be as low as $10 to $50 in a month, or $100 in a year...........
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(The views expressed above are the personal views of writer)