More than 213,000 farmers have activated mobile banking accounts and 81,000 are using e-wallets across India, according to data from the Indian government's department of agriculture. These figures are expected to double in early 2017. By the end of December 2016, 50,000 more farmers could be using mobile banking, said Subhash Gupta, chief executive of the National Federation of Urban Cooperative Banks and Credit Societies. The government hopes that the numbers would double in the next one to two months. The government has also launched a new program called Pradhan Mantri Jan Dhan Yojana (PMJDY), which aims to provide loans for small businesses that employ at least 10 people.
More than 213,000 farmers have activated mobile banking accounts and 81,000 are using e-wallets across India, according to data from the Indian government's department of agriculture. These figures are expected to double in early 2017. By the end of December 2016, 50,000 more farmers could be using mobile banking, said Subhash Gupta, chief executive of the National Federation of Urban Cooperative Banks and Credit Societies. The government has also launched a new program called Pradhan Mantri Jan Dhan Yojana (PMJDY), which aims to provide loans for small businesses that employ at least 10 people.