Today, these farmers have bank account with a debit card and everyone holds a mobile phone (a basic one).
1. Can something be worked out of this or do you thing the additional device (be it a simple android device) is essential .
@benson Most of them do not engage in on-line banking, they use banks to get paid, ATMs to withdraw and Paper cash to spend.
And Banking regulations don't seem to affect farmers much. I think the idea of a "community center" will lead to something similar to a co-operative bank.
Online banking will make its mark across villages from 2014 - 2015. This WILL happen as there is a RBI mandate for any banks with 4 or more branches to open one in a rural area.
Financial inclusion cannot be profitable to a bank unless they tap into the 'online banking' space.
But subvolatil also has a similar vision to mine. I do believe that wallets will be a pure hardware device rather than a phone or any other form factor. Unless, there is a sub 1K smartphone that comes along.