NEWS & ADVICE : HOME LOANS
Mobile book keeping facility for SHGs in Andhra Pradesh
By Joseph Samson
Jul 16, 2012
Print    Email    RSS   

Andhra Pradesh state government has launched a mobile book keeping facility for Self Help Groups (SHGs) in the state. It is estimated that this facility would be extended to 90 lakh poor women associated with SHGs of the state.

This facility would help poor women to access their financial transactions on mobile phones. At SHG meetings, the information on loans disbursed and loan repayments will be uploaded on mobile phones by record keepers in about 15 minutes. The online records will include details like insurance spacifications, old loans of the members, details of assets and repayment dates in local language, Telegu.

This project is first-of-its-kind in the country. Its software design and development has been done by Bluefrog Mobile Technologies, a Visakhaptnam-based company.

On this matter, Mr. Reddy Subrahmanyam, the Principal Secretary of Department of Rural Development, said "The advantage of this initiative is that it promotes financial literacy among the members and also ensures transparency."

On the question of security of data in this system of book keeping, an official said, "They will also be guarded against defaults as SMS alerts will be sent on everything, including meeting schedules, payment dates and defaults."


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
RBI reports 19.73% credit growth of banks...
Choices available for home buyers
Carnival of Indian Personal Finance Blogs #1
Prepayment on loans: 'To do or not to do'
If the interest rate is same, how do you...


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive