Eko India Financial Services Private Limited provides Eko, a technology solution for banks to offer mobile banking services in India. Its solution provides peer-to-peer money transfers, cash deposits and withdrawal, wage and salary payments, micro-insurance, and micro-credit functionalities to individuals by dialing numbers on a mobile handset at various customer service points, including kirana stores, grocer shops, petrol pumps, and PCOs. The company�s solution enables banks to provide banking facilities to urban, rural, and far flung areas, as well as to people who are unbanked section of the population. Eko India Financial Services Private Limited was founded in 2007 and is based in New Delhi, India
By
Harender Singh, Marketing Manager, Eko India Financial Services
| 04 14 2011 06:05:26 +0000
Since every bank has to follow RBI guidelines, I don't find any reason to oppose this. Who knows they may bring revolution in customer service !?!
By
Suryanarayan Murthy, Free lancer
| 03 04 2011 04:11:17 +0000
Yes. Big Industrial Houses have already been successfully operating in other financial sectors like Insurance, Leasing, NBFCs etc. Also they could bring in the capital required for Banks apart from entrepreneurial & managerial talents. However, measures such as stipulation of higher capital adequacy norms, prohibition on related party transactions have to be ensured making them committed to financial inclusion in reaching out to SMEs and Rural Masses.
By
Rajan J, Vice President, aXYKno Capital Services Ltd
| 03 03 2011 11:54:24 +0000
RBI should allow them, in order to generate job oppurtunities for the educated youth people.But i am dubious that it is going to support the financial position of India as said by Mr.Danish Khan.
By
pradhnya meshram, Sales Executive/Officer, Tata Communications Ltd
| 03 03 2011 09:42:00 +0000
yes it is demand of time to let big corporate houses to setup banks as as financial penetration is very low in India. to mobilize savings into investments it is necessary to take steps for financial inclusion. deposit to GDP ratio and credit to GDP ratio both are less than world average in India so Indian financial sector is underdeveloped.
By
Danish khan, Business Analyst, cognizant business consultancy
| 03 03 2011 07:56:43 +0000
Yes obviously, it will give much benefit to customers/consumers. Majority customers want quality service, value added service and benefit. Now a days advance technology is available, banks are launching every month new value added service, too much competition and too much benefit. But, RBI have to limit while giving permission. It should not like SEBI, we all know before some months age sebi were giving lot of permission to share issuing company........
By
Virag Shah, Confidential
| 03 03 2011 06:57:43 +0000
Yes. adding value to business.. It would help in developing economy.. We have already seen private banks taking over the public ones and now a step ahead.. allowing biggies to get into banking sector.. It would prove good..
By
Leena Khade, Banc Assurance, Deutsche Bank
| 03 03 2011 06:09:32 +0000
|
Thats definitely a recipe for disaster. It will legalise corruption in the country as practised by top corporates.
By
Jaygopal Raghavan, Marketing Manager, Landmark Group
| 03 22 2011 11:03:48 +0000
I support this side views as the nationalized banks can only ensure the safety & security of the money deposited by the public.There is a lot of scope for funds diversion by the private industrial houses.We have had a lot of precedents for these episodes. Thanks for the referral Ms.Leena Khade and Mr.Virag Shah.
By
NATTERAJA R. ARIKRISHNAN, GM-Projects, Bentec Electricals & Electronics Pvt. Ltd
| 03 08 2011 16:53:32 +0000
Big Houses shouldn't be allowed to Run there banks because of the fact that they have many hidden charges which are not visible to the customer while opening account with them they lobby people with g8 deals which turns out to be a large pie in there profits.I oppose RBI move to make big Corporate Houses to run there Banks.
By
Shobhit Agrawal, System Engineer , Infosys Technologies
| 03 04 2011 20:34:41 +0000
ICICI is one such example swindling people's money in the name of unclear technical codes and grabbing huge money. Let us not waste our hard earned money. Trust on Nationalized public sector banks. If something goes wrong with these Pvt. Banks, no one will help us including the Govt. Example, Tons and Tons of money invested in shares last few years were vanished due to improper regulations. Be careful on pvt. banks. Let us respect the PSBs.
By
S Prabhakaran, Teaching, Hindustan University
| 03 04 2011 08:14:48 +0000
NO.Private sector banks are fleecing the customers by their high charges and interest rates. In order pay very high salaries to the executives and officers, the poor depositors are made to pay for their extravaganza.Considering the global financial meltdown and the harm it has done to the global financial system it is not advisable to allow the industrial houses to open the banks and RBI must not allowed to be dictated by the vested interests of industrial lobby.Our countries banks were saved only because it was in the government hands. Had these banks in the private industrialists we would have doomed.4 out of the 10 banks given licence by RBI had to close shop and to be merged with the public sector banks or other big banks is a clear indication that private banks are incompetent and are serving only few big and rich people rather than serving the retail and small borrowers or farmers.If industrial houses are allowed to open banks it will become another gambling dens and poor people and tax payers will be the sufferers.
By
K.VITTAL SHETTY, Chief Executive Officer, MITHRA SOUHARDA CREDIT CO-OPERATIVE LIMITED
| 03 03 2011 13:48:45 +0000
No. They should not. We all know how these business houses manipulate the market with the help of politicians like 2G Scam, if they are allowed to setup banks then they will do everything to pull out money from the customers and will utilise the same for their own business. RBI has set various norms for banking companies. They require the banks to utilize the fund so generated for specific purposes including rural area and for poor section of the country. If Pvt. companies allowed to enter this sector they will surely not adhere to rules.
By
Nilesh Pawar, Legal & Secretarial, Valencia Professional & Management Services LLP
| 03 03 2011 09:05:41 +0000
no, we already seen what happened in US. Also,pvt banks like public sector banks are not keen to participate in social banking. they are interested in class banking.Considering Indian scenario banking is more than capital infusion.
By
PRASHANT JAGTAP, Assistant General Manager, IDBI Bank
| 03 03 2011 07:12:37 +0000
|
