Mobiles to assist in sustainable rural poverty reduction & financial inclusion

Studies by the International Telecommunications Union indicate that of the world’s mobile subscribers only 33% were in the developed world with the remaining 67% in the developing world at the end of 2006.

Future growth projections are also strong. Currently, China is adding about 6-7 million new subscribers per month, India about 8-9 million and the US about 2-3 million (CITA).

Mobile phone provides a way to reach out to people in isolated areas and can help in big way in the financial inclusion. For example in India, more Indians have mobile phones than bank accounts.

According to a World Bank study, conducted by A Bhavnani, R Chiu, S Janakiram and P Silarszky, the deployment of mobile phones does have a multi-dimensional positive impact on sustainable poverty reduction. There is considerable evidence to suggest that the economic and social benefit of mobile telephony will be highest in rural areas, which currently have less telephony services.

Studies have attributed multiple benefits to the mobile phone: from lowering negative aspects (e.g., corruption, crime, high prices) to raising positive aspects (e.g., levels of education, efficiency, health). Such benefits can spread to the developing world, provided the right level of access and pricing are put into place.

"Banknet's Seminar on Mobile Banking & Payments" on 26th August 2008 at Taj President, Mumbai will be the first seminar to discuss the final RBI guidelines on mobile payments. Addressing financial inclusion via mobile banking will also be discussed at the seminar.

With its theme “Changing Mobile Payment Landscape – Challenges & Opportunities”, the Seminar on Mobile Banking & Payments aims to keep apace with the recent developments, emerging m-payment models, newest technologies and market trends in the mobile banking & payments arena.

Banknet's Seminar on Mobile Banking & Payments will provide a neutral platform where the regulators, Practitioners from banking, financial services & corporate, Vendors, Technology providers, consultants, academicians come together to discuss the challenges, opportunities & experiences....read more.


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