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BFSI Chronicle, 11 Edition September2022
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MOBILE BANKING
WITHOUT INTERNET
(Financial Inclusion and Role of Mobile Phones)
obile phone usage is nebulous, it can
be used to either good or bad effects.
On one hand, mobile technology may
Mhelp engender inclusive development,
reduce inequality, increase income, facilitate
co-operation and information sharing, among others.
On the other hand, mobile usage can increase the
number of road accidents, reduce concentration
during meetings and learning, dilute culture,
increase safety concerns and fraud, and lead to game
addiction, among others.
The nebulous nature of mobile phones means that
their effects, either negative or positive, will be context
and individual-specific.
It provides evidence of mobile penetration
reducing inequality in Africa.
Similarly, mobile phone diffusion enhances
inclusive development in Sub-Saharan Africa.
They reveal that financial institutions enhance
the positive effect of mobile phones on inclusive
growth.
Studies in Rural Peru further show that mobile
coverage increased household consumption per
capita and by so doing reduced both extreme
and absolute poverty. This is because mobile
phones reduce information search costs and
Dr. Sai Sudha, enable villagers to have access to weather,
Hyderabad market, and price information, all of which
enable production and productivity.
The Institute Of Cost Accountants Of India
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