News Roundup : Mobile banking has failed to take off in India [RBI]

Mobile banking has failed to take off in India: RBI

Banks are yet to fully exploit this technology even for their existing customers. In May 2012, close to 3.34 mn transactions were concluded for Rs 2.86 bn through mobile as against Rs 1.28 mn transactions of Rs 0.91 bn in May 2011. “This growth rate is low compared to the number of bank accounts and the vast mobile subscriber base of more than 900 mn.

“The need of the hour, therefore, is that the banks and the mobile operators reach a workable understanding while protecting their mutual interests. Such an approach would result in a “win-win” situation for both and, more importantly, serve the larger cause of public good of financial inclusion,” [RBI deputy governor H R Khan, source]

    Telenor scales down India operations from 13 to 9 circles

    Telenor will scale down its India operations from 13 circles to 9 as the company struggles to keep afloat given the continuing uncertainty around the spectrum auctions. This will result in a gradual scale down of operations in Tamil Nadu, Kerala, Karnataka and Orissa circles.[source]

    GSM operators add 4.64 million subscribers in June, Bharti leads

    As per COAI’s latest data, GSM operators add 4.64 million subscribers in June, led by Bharti. Bharti Airtel, which has a market share of 27.65 per cent, added 2 million users in June to take its total subscriber base to 187.30 million, while Vodafone added 1.22 million subscribers in June, 2012.

    2G reserve price: EGoM recommends minimum price for airwaves be cut to 14,000-16,000 crore

    The Empowered Group of Ministers (EGoM) recommended that the minimum price for airwaves be cut to Rs 14,000-16,000 crore, disappointing mobile phone companies who were pitching for an 80% reduction from Rs 18,000 crore proposed by Trai.[source]