BSNL to launch SMS based Money Transfer Service

One of the largest telecom service provider in India Bharat Sanchar Nigam Limited (BSNL) all set to launch unique mobile banking platform to help the mobile subscribers to transfer money electronically.

According to the Operator, It will be more helpful to send money instantly in rural parts of India wherein the Banking infrastructures is yet not good. This will SMS based service in association with India Post. Receiver will be able to encash the SMS at all post offices in the country.

In order to send money, go to the nearest post office and transfer the money by way of an SMS. The SMS will contain a unique code. The person who receives this SMS real time, can go to his nearest post office and collect the money by showing the code. This will also help those who do not have a proper address for physical delivery of the money order.

Mr R. K. Agarwal, BSNL Director for Consumer Mobility, stated that “BSNL Money Transfer platform had been test-piloted in Chandigarh and the company expects to roll out the service in association with the postal department, after getting the Reserve Bank of India’s approval”