India’s nationwide Telecom Backbone Bharat Sanchar Nigam Ltd (BSNL) and State Bank of India (SBI) today broadcast a joint venture for expanding banking and fee services (Mobile Money) to India’s unbanked millions through the ubiquitous USSD SMS founded mobile stage.
With the joint venture broadcast today BSNL customers having their account with State Bank of India (SBI) can relish Mobile Banking facility with all banking transactions encompassing cash move, wireless to wireless finance move, Balance Inquiry, wireless Top-Up/Recharge, Mini declaration, Checkbook issuance, Prepaid wireless Recharge and Postpaid account payment and alallotmentment more just for Rs. 15 per month. The service will be work over USSD based SMS scheme.
previous SBI proposing an SMS or GPRS m-banking service called SBI flexibility for wireless banking. The new USSD based wireless cash service is instant, very simple to use and work without any wireless Internet service facility on mobile teleteleteletelephone.
The BSNL Postpaid or Prepaid customers will have to register for the services with SBI. The client has to dial *595# to outlook easy menu alternatives and key-in your choice (check below PPT for details). Customers will be able to outlook account balance, get mini declarations, do finance move, change MPIN or recharge their mobile account. He will furthermore obtain confirmation regarding successful transaction over USSD SMS
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