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Business Daily: Banking without branches

07/01/2010

Banking without branches

BBC World Service - Business Daily, Banking without branches

Branchless banking - is it the future for the world's poor?

Banking without branches - how poor people can make deposits, get loans and make investments without the need for a bank in a building. How a scheme in India is showing the way.

Is it possible to have a bank without branches? In poor areas in India a scheme is showing that it's not just possible, but desirable. It's an ambitious project - microfinance services, including loans and savings, brought to poor people in remote villages. Manish Khera, the chief executive of FINO, Financial Information Network and Operations, explains how its network of local agents works. 

And how a friend online is a friend for life - even if you don't want them to be.

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