Page 69 - BFSI CHRONICLE 3092022.indd

BFSI Chronicle, 11 Edition September 2022
th

 There is additional evidence of mobile phones While the above positive effects are welcome, it is
improving economic growth in the Indian imperative not to lose sight of the flipside of mobile
States. Mobile phones are found to advance technology. It observes that the mobile phone has
literacy, improve jobs, and access to health transitioned from an obvious ‘technological object’
services, and enhanced social networking to a ‘social object’.
among people at the bottom of the pyramid in
India.  Mobile phone increases the invasion of privacy,
the dilution of cultural values, and game
 In an intervention for Sri Lankan mushroom addiction.
farmers led by the University of Ruhana,
farmers were provided with mobile phones  It has been reported in Korea and Japan
with interactive voice messages (IVM) that that some children play games for 24 hours
relayed scientific knowledge to them. The non-stop.
results from the intervention showed improved
income of participating farmers arising from  Mobile phone usage can distract the attention
their receipt of technical know-how timeously of users during work hours, meetings, lectures,
and accurately made possible by the IVM. and driving.

 A recent study on M-PESA in Kenya, show  Evidence from Iran shows that some drivers use
that mobile money has a significant and their phones while driving, thereby increasing
favourable long-run impact on both household the risk of accidents.
consumption and poverty. The impact was
found to be larger for households headed by  The impersonal nature of mobile communication
females. makes it susceptible to fraudulent use. Callers
sometimes mutilate their voices to avoid
 There is evidence of mobile phones enabling detection, make pretentious calls and give
co-operation and information sharing among misrepresentations with the aim to deceive and
fishers in Kerala, India, who share information defraud.
amongst themselves regarding rescue, potential
bumper locations, and safety.

 Mobile phones are further used to send and
receive remittances, which could transfer funds
for investments in inclusive development
promoting ventures. This is because, by
ensuring that information and communication
are decentralized, mobile phones reduce the
avenues for corruption, and increase the
ability to detect and punish corruption.

Turning to the link between financial inclusion firm growth and productivity respectively. There
and inclusive growth, access to finance enhances is a sound theoretical basis for expecting financial

The Institute Of Cost Accountants Of India

69