“Essentially, the sender can have the money withdrawn from his
account through an ATM transaction. The intermediary processes the
payment, and sends a code to the recipient on his mobile that allows him
to withdraw the money from any nearby bank’s ATM,” said RBI governor
Raghuram Rajan on Wednesday at the Nasscom summit, and highlighted how
technologies can be used to deepen financial inclusion.
“All would be better off if the MSME could sell its claim on the large buyer in the market. The MSME would get its money quickly, while the market would get a claim on the better rated large buyer instead of holding a claim on the MSME. The large buyer could get a better price for his purchases.”
http://www.financialexpress.com/news/soon-you-can-withdraw-cash-from-atm-even-without-bank-account-raghuram-rajan/1225515
“All would be better off if the MSME could sell its claim on the large buyer in the market. The MSME would get its money quickly, while the market would get a claim on the better rated large buyer instead of holding a claim on the MSME. The large buyer could get a better price for his purchases.”
http://www.financialexpress.com/news/soon-you-can-withdraw-cash-from-atm-even-without-bank-account-raghuram-rajan/1225515
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