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Chew on this statistic for a while: in many developing countries, there are more mobile phone subscribers than bank account holders. And many of the loan requirements of many citizens of developing countries, especially in rural areas, are infeasible for traditional banks to meet. Enter the world of microfinance: enhanced by mobile communications to bring down workflow costs.
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Indian users see mobile communications as a necessity, and that is the reason why sales of connections to new subscribers are not slowing down despite the economic crisis, said Anshul Gupta, principal research analyst at Gartner, on Wednesday.
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