State Bank of India launched State Bank MobiCash

Posted on:19 Dec 2016 16:58:58
State Bank of India launched State Bank MobiCash
19 December 2016 Current Affairs: State Bank MobiCash Mobile Wallet was launched on 18 December 2016. MobiCash is a product of State Bank of India (SBI) and Bharat Sanchar Nigam Ltd (BSNL).

It was jointly inaugurated by Minister of Finance and Corporate Affairs, Arun Jaitley and Minister of State for Communications (Independent charge) and Minster of State for Railways Manoj Sinha.

While introducing the MobiCash Mobile Wallet service, Finance Minister appreciated the broader vision of SBI and BSNL to bring a Wallet both for smart and feature phones.

State Bank MobiCash Mobile Wallet : State Bank MobiCash will be the Mobile Wallet Service of the State Bank of India and includes the service over the Application/USSD/SMS.

 In this case, bank means State Bank of India or any of its successors or assignees, while, wallet means a mobile-based prepaid wallet registered with the Bank.

Wallet Holder means the holder of State Bank MobiCash. This wallet service can be accessed with the help of 6 digits Mobile Personal Identification Number (MPIN).

These mobile wallets will be governed by RBI and Bank’s policy. The product will be available to applicants having a valid Mobile number, identity proof and address proof.

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