http://www.nextbillion.net/newsroom/2008/06/27/a-sunrise-industry-coming-up-in-west-delhi-s-uttam-nagar Comments for "A Sunrise Industry Coming up in West Delhi’s Uttam Nagar" en http://www.nextbillion.net/newsroom/2008/06/27/a-sunrise-industry-coming-up-in-west-delhi-s-uttam-nagar <div class="flexinode-body flexinode-4"><span class="flexinode-timestamp-13"> June 27, 2008 - 10:00, </span> <span class="flexinode-textfield-14"> Live Mint: Wall Street Journal</span> <div class="flexinode-textfield-15"> A sunrise industry coming up in West Delhi’s Uttam Nagar</div><br> <div class="form-item"> <label>Story Link:</label> <a href="http://www.livemint.com/2008/06/23224550/A-sunrise-industry-coming-up-i.html">http://www.livemint.com/2008/06/23224550/A-sunrise-industry-coming-up-i.html</a> </div> <div class="flexinode--41"> <strong>Teaser: </strong><br /> <p>New Delhi: Shyama Kumari has a new-found sense of confidence. The 20-year-old college goer taught part-time at a local school for two years and saved Rs8,000, which she has put in a bank account. Her banker? The local drug store. <br /><br />Kumari isn’t the only one who banks in a shop and shops in a bank. Around 1,400 people in her neighbourhood, Uttam Nagar—a lower middle class colony in West Delhi—have, through shops that include grocers and chemists, opened accounts that now have between Rs20 and Rs 14,000. </p><br class="clear" /></div> <div class="flexinode-textarea-6"> New Delhi: Shyama Kumari has a new-found sense of confidence. The 20-year-old college goer taught part-time at a local school for two years and saved Rs8,000, which she has put in a bank account. Her banker? The local drug store. <br /><br />Kumari isn’t the only one who banks in a shop and shops in a bank. Around 1,400 people in her neighbourhood, Uttam Nagar—a lower middle class colony in West Delhi—have, through shops that include grocers and chemists, opened accounts that now have between Rs20 and Rs 14,000. <div>Uttam Nagar is home to India’s first experiment of some scale in what is called mobile phone banking that allows customers to transact with their bank through their cellular phones. Advocates of the technology cheer the possibilities both from the view of potential customers untouched by the banking system yet and from the perspective of banks for whom such a channel reduces costs by as much as half.<br class="clear" /></div> </div> http://www.nextbillion.net/newsroom/2008/06/27/a-sunrise-industry-coming-up-in-west-delhi-s-uttam-nagar#comment Microfinance Europe and Eurasia Fri, 27 Jun 2008 10:34:11 -0400 Joseph Bornstein 5739 at http://www.nextbillion.net