Telecom to help in financial inclusion: CII
Saturday, 13 November 2010, 06:09 IST
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New Delhi: The new regulation by the Reserve Bank for inclusion of business correspondents will provide huge opportunity for the telecom sector to work with banks to enhance financial inclusion, industry body CII said today. "The new regulations for inclusion of Business Correspondents provide huge opportunity for telecom sector to work with banks. Telecom can work as quasi banks with 90-95 per cent pre-paid subscribers with their Zero bad debt to enhance financial delivery while best managing the cost of delivery," the Chairman of CII Telecom Committee, Sanjay Kapoor, said in an event organised by CII here. RBI has allowed companies along with individuals, non- government organisations, cooperative societies and post offices top work as business correspondents for banks.
Source: PTI
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