MNOs are particularly well placed to make use of this opportunity to become the BCs of banks keeping in view the fact that mobile phones have become ubiquitous. I am glad to note that a few MNOs have indeed become BCs of some banks. I am sure that the nascent strides being taken in this regard are likely to fructify into major achievements soon.
Such collaborations between the banks and the MNOs enables each of them to exclusively perform their respective designated roles – as bankers and service providers. Reserve Bank expects that these experiments get upscaled and across the spectrum and result in a win-win partnership for both the parties, leveraging their respective capabilities and reach. Tapping USSD to expand access to mobile banking services 18.