BSNL, SBI launch ‘MobiCash’ App

Excelsior Correspondent

Srinagar, Jan 17: In a joint endeavor, State Bank of India (SBI) and Bharat Sanchar Nigam Limited (BSNL) launched ‘MobiCash’ App today for latter’s smart phone subscribers as part of ‘Digital India’ campaign.
Addressing a press conference here, BSNL General Manager of Kashmir Circle, M Salem Beg said that the ‘MobiCash’ is being launched at a time when cashless financial transactions are being promoted by the Central Government with an aim to reach the poorest and remotest population of the country.
He said the App is backed by huge BSNL retail network across the country as extension bank counters and  State Bank ‘MobiCash’ e-wallet service offers facilities like fund transfer, mobile recharge (BSNL prepaid), bill payment (BSNL landline and postpaid), balance enquiry and mini-statement.
“The wallet service is available through smart phone application for android and I-phone users. There will be no dependency on visiting bank branches or ATM for cash deposit, withdrawal and transfer as retailers’ service the purpose as Bank Extension Counter,” the GM said.
He said that though this mobile-wallet application, the population of the country will have the access to five lakh collective merchants/retailers of SBI and BSNL for various socio-economic and developmental initiatives, cash dispensation of various schemes to the poorest and weaker section of the society, besides various developmental schemes as and when informed by the Government o India by linking Aadhar cards etc.
The top BSNL official, however, said that as of now only 20 percent of the population of the country is having an access to plastic money but with this combo SBI-BSNL M-wallet, 80% of the population of the country that too in the remotest areas of the country will have an access to the digital money as both PSU have deep reach to rural network.
“Through these retailers the people of the country will be able to pay all Government bills, recharge and billing of various operations, DTH and other products and in future,” the General Manager said. He meanwhile informed that in six-month long unrest when prepaid telephony was shut, the BSNL issued 1.20 lakh new postpaid SIM cards, 15,000 landline and 10,000 broadband connections.