Telecom Financial Inclusion Convergence : India

Telecom, Banking and e-Governance are converging in India, thanks to policy intervention of the Indian Financial Regular, RBI.

RBI has issued guidelines for pre-paid payment instrument, under the Payment and Settlement Act 2007.

In its guidelines document, RBI defines four categories of pre-paid instruments:

• Closed: These are the pre-paid charge cards issues by Telcos, commonly known as top-up cards.
• Semi Closed: These instruments allows for paying for goods in pre-defined establishments having explicit agreement to accept  [read more →]