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."