Microfinance To Provide Cheap Handsets To Poor

Wednesday, June 18, 2008

Leading microfinance lender SKS Microfinance will join hands with Nokia and Airtel for providing cheap handsets to the poor.?”This is our pilot project. We are in the process of it and the MoU is soon to be signed,” Vikram Akula, CEO of SKS Microfinance said here today.

The company will launch the project in Andhra Pradesh first. “As much as 15 per cent of the customers of SKS are already having handsets. We expect 75 per cent of our customers to go for these cheap mobiles,” SKS chief operating officer M R Rao said.?

The company has also approached the Reserve Bank for mobile banking, on which there are regulatory constraints, he said while announcing the performance of the company in the last fiscal.

The NBFC also has plans to venture into newer areas of microfinance and is planning to provide non-financial services like food, consumer durables, health, disaster management to the poor.??

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Source: Business Standard (link opens in a new window)