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SKS-Airtel tie-up to benefit rural sector
By siliconindia
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Saturday, 19 July 2008, 03:42 IST
Hyderabad: Hyderabad-based SKS Microfinance, a financial service provider for the rural sector, has made strategic tie-up with Bharti Airtel, a telecom service provider. For Airtel, the alliance is a part of its Grameena Mobile Kranthi scheme and for SKS, it is a step towards its foray into mobile banking.
This tie-up shall allow SKS members to secure prepaid connection for their handsets, which shall be provided through a tie-up with Nokia, a mobile phone supplier. At the media conference to announce its tie-up with Airtel, Vikram Akula, Founder-CEO, SKS Microfinance said, "We will provide loans to our members to buy Nokia handsets (1650 model costing 
2,229) on 24 percent interest. Airtel will provide prepaid connections. Nearly 50 percent of our 2.4 million members across 15 states will be first time mobile users and we hope to extend this product to all of them."
"The initial Airtel-SKS launch is in four branches Jogipet, Medak, Ramayampet and Siddipet. It will be launched at all the branches in Andhra Pradesh whereby 7,50,000 members will be benefited with this tie-up," said Elango T, CEO (mobile services), Airtel.
As per one of its study on mobile banking, which literally involved 1000 of its clients, the results found was encouraging at it saw over 4000 transactions. "Now we are considering to extend to other parts of our operations," Akula said.
2,229) on 24 percent interest. Airtel will provide prepaid connections. Nearly 50 percent of our 2.4 million members across 15 states will be first time mobile users and we hope to extend this product to all of them."
"The initial Airtel-SKS launch is in four branches Jogipet, Medak, Ramayampet and Siddipet. It will be launched at all the branches in Andhra Pradesh whereby 7,50,000 members will be benefited with this tie-up," said Elango T, CEO (mobile services), Airtel.
As per one of its study on mobile banking, which literally involved 1000 of its clients, the results found was encouraging at it saw over 4000 transactions. "Now we are considering to extend to other parts of our operations," Akula said.
