Mobile Payment Banking plans from Vodafone, Airtel in rural India Technology

Vodafone and Airtel looks for Payment Banking in India

The top class companies of Telecom Sector Vodafone and Airtel wants payment banking in India. The Chief of Norway's Telenor and British telecom Vodafone desire to apply for payment banking permits in India.

Uninor, who is Telenor’s Indian Unit, confirmed the plan and say that they are working on exploration and model option on our contribution in the licensing process. According to, bank payment’s guidelines the limitation of foreign holding lies @ 74%. So, they want to find local partners to provide the service that suggest a new association.    

MWallet for Rural Area of India

According to Aniket Dani and Ajay Srinivasan from Krishi Research Centre, Telecom Operators are the idyllic contenders to situate up these payments banks. These Telecom companies plan to give mobile wallet (MWallet) for rural major candidates and allowing strong network for them.    

The Guideline issued by RBI in November 2014 is that payment banks can accept demand deposit subject to a limit of Rs. 1 lakh per customer and give payment and allowance examine through channels like brush wood, Internet or mobile banking.

Africa, Kenya and some more Countries have the experience of Payment banking. Kenyan telecom operator partly have possession by Vodafone, is widely measured as success chronicle of mobile banking in developing countries.

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