The Reserve Bank of India has gradually opened up the regulatory environment pertaining branchless banking. In the past few years, they have included a wider array of individuals and entities that can act as Business Correspondents (BCs) for banks to reach the last mile customers.
Mukesh Sadana, Specialist, MicroSave, discusses about the following:
Current regulatory conditions that effect m-banking in India;
Challenges faced upon the regulators;
Next steps that need to be taken in order to achieve full potential of M-Banking in India.