India needs true mobile banking to achieve financial inclusion

Recently, HDFC Bank launched a form of mobile banking, using a Vodafone subsidiary as its corporate banking correspondent. This would allow Vodafone's network of retailers and sub-agents to open and operate accounts, in remote areas outside the reach of the bank's 2,150 branches in 1,141 towns. This is a great step forward for India's restrictive banking regulation, but still a small step for mobile banking. 

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