m-paisa service launched by Vodafone in association with HDFC Bank
HDFC Bank has appointed a Vodafone India subsidiary company as a Corporate Business Correspondent, which allows Vodafone select retailers to represent the bank as sub-agents. By providing banking transactions at such sub-agents, this HDFC Bank-Vodafone India partnership will provide the services even in remote areas.
RBI Deputy Governor, Dr. K.C. Chakrabarty, in the presence of HDFC Bank MD, Mr. Aditya Puri and Vodafone India Director – Business Operations, Mr. Sunil Sood, unveiled what’s effectively the country’s first-of-its-kind national initiative for financial inclusion through mobile banking.