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SBI, BSNL launch MobiCash

image003State Bank of India and public sector telecom company BSNL have jointly launched MobiCash mobile wallet. Finance minister Arun Jaitley, minister of state for communications Manoj Sinha jointly launched the product, which will initially be available in Punjab, Rajasthan, Haryana and Bihar and across the country by December end. Mobicash is a mobile wallet for the masses which works with smartphones as well as feature phones. Using MobiCash, a user can deposit cash with BSNL retail outlets and withdraw cash from his/her account. This feature is unique and is not available with any of the mobile wallets at present. Jaitley said the large network of BSNL and trust of SBI will help the wallet to reach the remotest areas of the country. Arundhati Bhattacharya, chairman SBI, said the wallet would initiate the masses to the digital journey in an assisted mode. The wallet has both customer initiated and retailer assisted features for usage, backed by BSNL’s base of 6 lakh retail outlets as well as BSNL Customer Service Points (CSPs).

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