Prime Minister Narendra Modi is all set to deliver his final ‘Mann Ki Baat’ address of the year to the nation today. It will be his 27th edition of the programme. Started since October 3, 2014, he had been speaking with this programme almost every month, mostly dwelling on social issues and also put views of the public on various wellfare schemes launched by his government.
In his last address on November 27, which was the first since the government announced demonetisation drive, Prime Minister Narendra Modi had cited Kenya’s M-Pesa as an example of how an economy can move towards being a cashless society.
M-Pesa is a mobile-phone based money transfer and banking service that was first introduced by Vodafone in Kenya. The M in M-Pesa stands for mobile, while PESA is the Swahili word for money. M-Pesa is often called the most successful mobile phone-based banking service in the developing world. It was first introduced in Kenya by Vodafone for Safaricom in 2007.
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According to Safaricom, M-Pesa has “revolutionised the way Kenya does business”. M-Pesa was envisioned as a service that would help small businesses use their mobile phones to get loans and allow for microfinance-loan repayments.
Acknowledging the support extended by the people towards demonetisation move, the PM Modi said that the corrupt people were still trying to hoard black money and were exploiting the poor in the process . He also spoke on the Kashmir unrest and hailed the valour of the Indian Army.