Article
According to this November 2007 article, current banking regulations in India do not allow cash for exchange of another ‘unit’ such as ‘airtime’ in the case of mobiles. Only banks and the Indian Post (through money orders) are currently allowed such transfers. However, the momentum in India is building with the regulators floating consultation papers on the subject. This article looks at the Indian mobile market, and anticipates the arrival of m-banking services in the near future.