Business Banking and Development in the Telecom Industry
The Indian Telecommunications Industry
India, the second largest telecommunication market in the world, is also among the fastest growing mobile markets globally. Total number of mobile customers in India has increased from approximately 0.3 million as on March 31, 1997, to approximately 621.28 million as on March 31, 2010, with the mobile penetration rate increasing from 1.57% to approximately 52.74% during the same period. This has been aided by significant increase in network coverage, increased competition and continual decline in tariffs and handset prices. Today, in each circle, there are at least 7-8 telecom service providers vying for subscribers.
Key areas that will enable sector to grow further are increased mobile penetration in the rural market (driven by reduced handset costs and tariffs), increased revenues from data services driven by the launch of 3G services, active and passive sharing of telecom infrastructure driven by the need to reduce capital and operational expenses. Various opportunities for investments exist in segments like: Telecom Passive infrastructure, 2G Network expansion, Rollout of 3G / BWA services, Switching / Transmission / Access equipments, Telecom Cables etc.
The YES Expertise
We, at YES BANK, believe that there is tremendous scope to launch niche mobile banking products to meet the financial needs of customers in this sector. We are fully equipped to provide specific solutions for the telecommunication industry with the able efforts of a strong team of industry specialists. These bankers have strong conceptual and contextual familiarity with the industry, enabling them to optimally service the underlying businesses.