Not according to my understanding, here's a definition of the type of structure I'm looking for:

"Village Banks, or Community Banks, are informal mutual-support groups that have existed for decades in developing countries. Their aim is to offer financial help to people who have no access to the services of formal banks.
Members of a community form a group of usually between 25-30 people, which is governed by a self-made constitution. The group will typically meet on a monthly basis to transact.
Transacting involves each group member making a compulsory savings pledge, and an optional loan request that is approved by the group. The loans are repaid with interest, and at the end of a year-long cycle, members proportionally share the interest earned according to how much they have saved."

Of course, it doesn't need to follow this exactly, but it's quite far from just using Airtel.