Mobile Banking Leads to Financial Inclusion in India

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Mobile Banking Leads to Financial Inclusion in
India
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Mobile Banking

• The lack of financial inclusion has been one of
  the main concerns that India has faced for
  decades altogether. However, due to the rise and
  advent of technology and the internet, it has
  become extremely easy to reach out to a large
  number of people thereby leading to financial
  inclusion.

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Internet offered Mobile Banking

• The internet has offered a unique platform for
  banks and other financial institutes to offer
  their services online via their own website. This
  website then becomes globally accessible to any
  person located in the country. However, it is the
  rise of mobile banking in India, which has
  propelled financial inclusion across both the
  rural as well as urban parts of the country. This
  is because there are more people in the country
  who are making use of a mobile phone than there
  has ever been in the past.

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Some of the key features of mobile banking
include

• A person can access their accounts while on the
  move. They can check their account balance
  engage in banking as well as non-banking
  activities. People can review recent
  transactions, pay bills, locate ATMs, manage
  investments, deposit cheques, etc
• They can receive alerts on their mobile device
  regarding the debits made via their account and
  receive constant updates about their bank balance
• Mobile banking is available 24/7 for 365 days a
  year. Not only is it a very convenient option,
  but it is extremely easy to make use of,
  especially for people living in rural parts of
  the country
• Mobile banking makes use of telecom operators and
  does not rely on an internet connection

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Thank You