Now, Funds Transfers between Two Individuals for settlement of financial transaction is made possible through the Mobile Cell Phones outside of Banks' Network of Branches.
This facility is a Boon to Rural India's vast population who are dependent on Banks' Branch network available in the vicinity of the villages to carry out such cash transactions.
Corporation Bank and Tata Indicom have tied up for such cash transactions to be put through these Mobile Cellphones to cater to the needs of rural India.
Reserve Bank of India has permitted Banks to operate these Money Transfers through Mobile Phones with a Limit of Rs.5000/- per transaction to start with. For further details on the operative part of the scheme can be accessed from these Links:
http://www.paymate.co.in/green/
http://www.tata.com/article.aspx?artid=48AbTWkt4WI=
Posts
No comments:
Post a Comment