SBI launches digital wallet 'State Bank MobiCash'

[rahul1117kumar]

The country’s largest lender State Bank of India (SBI), in partnership with Bharat Sanchar Nigam Limited (BSNL), Saturday launched its mobile wallet application ‘State Bank MobiCash’ for feature as well as smartphones.

The new wallet services will initially be available in Punjab, Rajasthan, Haryana and Bihar and expanded pan-India by the end of December.

MobiCash will allow users to deposit cash through BSNL retail outlets and withdraw funds from their account. SBI already has an application named SBI Buddy for smartphone users.

With the large network of BSNL and SBI, this wallet will reach the remotest areas of the country, in line with the government's digitisation mission, said Finance Minister Arun Jaitley who launched the wallet.

SBI launches digital wallet State Bank MobiCash

 

[Bapun]

App download link: SBI Mobicash

 

[rahul1117kumar]

BSNL State Bank MobiCash m-wallet launched in Tamil Nadu

Tamil Nadu came under the national coverage of BSNL State Bank MobiCash on Thursday, which facilities cashless transactions for subscribers using basic mobile phones.

A variety of utilities can be availed using the facility that comes with a unique feature of withdrawing money from consumer service points (CSP) and authorised retailers by users without any bank account. So far, the facility has been launched in six states.

Launching the m-wallet here, BSNLChennai Telephones chief general manager S M Kalavathi said the new facility would be helpful for the migrant labours.

"It is very useful to migrant labours as fund transfers and banking transactions are possible. If ATM is not available in an area, MobiCash e-wallet users can withdraw money from the retailers," she said.

There are 300 CSPs functioning in the Chennai telecom circle, she added.

While the virtual wallet allows transaction up to Rs 20,000 for any subscriber, Know Your Customer (KYC) compliant users can transfer up to Rs 1 lakh.

Currently, payment of BSNL mobile and landline bills are available. Utilities like payment of electricity and water bills, besides taxes are expected to be added soon.

Speaking on the occasion, SBI general manager, Network-1, Chennai D Indu Sekar said that MobiCash is the only m-wallet that offers withdrawal of funds. "Unlike other wallets, it is the only wallet, where you can deposit and withdraw cash. Bank account is not mandatory for this and your mobile number itself is the account," he said. He further added that users do not need to hold any bank account for using the facility.

BSNL State Bank MobiCash m-wallet launched in Tamil Nadu, Telecom News, ET Telecom