Offers services like funds transfer and bill payment among others
PTI | January 2, 2013
State Bank of India (SBI) on Monday launched 'Mobicash Easy', a mobile wallet in Mumbai and Delhi with service offerings like funds transfer and bill payment among others.
"We have launched mobile wallet service in Mumbai and Delhi which will offer services like balance enquiry, mini statement, funds transfer, mobile top-ups, DTH recharge, bill payment among others. We will roll out this service in other centres in near future," Deputy Managing Director (Corporate Strategy and New Business), R K Saraf told reporters in Mumbai.
SBI launched mobile banking service 'State Bank Freedom' in 2009 and has around 54 lakh users as of now with about 10,000 users adding per day.
Following the success of its first product in this space, the bank has now launched 'Mobicash Easy'.
"We see significant opportunities in the mobile banking space, which will emerge as a major business line going ahead," Saraf said, adding that transactions through this route stood at around Rs 1,000 crore from April 2012 till date.
He also said the bank would soon launch a KYC (know your customer) enabled mobile wallet service with higher transaction limits.
Referring to growth in mobile banking customers, Saraf said the number of customers using mobile banking could go up from 54 lakh now to around one crore in the next one year.
The bank said it would target migrant labourers and youth to use the wallet service.
Referring to the direct cash transfer, the bank said that it was ready to implement government's ambitious scheme from tomorrow.
On May 23 this year, the ministry of environment issued ‘Rules on prevention of cruelty to animals (regulation of livestock market)’ with the purported aim of regulating animal markets. When one reads the rules – notwithstanding the lame efforts from union ministers to issue clarificati
BEML, a mini ratna category-1 enterprise of the defence ministry, has set a target of using 100 percent renewable energy for its own consumption. In this connection, BEML’s 9 MW Windmill Park installed at Bagalkot District in Karnataka was recently
Bharat Heavy Electricals Limited (BHEL), a Maharatna enterprise, has recorded nearly 14 percent growth in its intellectual capital in 2016-17 fiscal. During the year, a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights
National Aluminium Company Limited (NALCO) has joined hands with the Confederation of Indian Industries (CII), Odisha, to organise outreach programmes for industries and other stakeholders on GST implementation. Series of interactive programmes are being
Taking prime minister Narendra Modi’s vision of ‘Housing for all by 2022’ forward, Employees` Provident Fund Organisation (EPFO) has amended the EPF Scheme, 1952 to provide assistance in acquiring affordable houses to the EPF members by allowing withdrawal from PF to
IndianOil is currently transporting bulk LPG from Mangalore to various LPG bottling plants in north Kerala through about 100 bullet trucks every day, which ply on narrow highways. A pipeline connecting the proposed LPG import terminal to Kochi Refineries Limited and the LPG bottling plants at Udayamperoo