MOBILE BANKING AS A TOOL OF FINANCIAL INCLUSION
Abstract
In recent years, financial inclusion has been one of the most discussed issues in India as well as in other developing countries. Growing awareness and reachability of IT facilities has resulted in easy accessibility to the banking services. Now the brick office has been replaced by click office and the use of m-banking (mobile banking) and in particular, payments by means of smartphones or mobile phones, has tremendously increased across the world and specifically in the number of developing countries. Mobile Payment technology is becoming significant, as it is being used in commerce, health care, agriculture, and other sectors. Portable Payment encourages monetary incorporation and offers potential for money related combination. The most notable framework, M-PESA, began by Vodafone has accomplished in dealing with the MPESA Mobile Money, and has carried budgetary incorporation to a great many clients. The quick improvement in portable banking, specifically, has prompted expanded access for the less preferred and impeded populace to reasonable money related administrations.
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