According to a statement attributed to Killi Kruparani, India’s minister of state for communications and information technology, a mobile money order service will be available at post offices in the Indian state of Andhra Pradesh beginning in October 2013. The service will be delivered in partnership with the Indian government’s telecommunications company, Bharat Sanchar Nigam Limited (BSNL), and will allow an individual to transfer money to any BSNL customer by making a cash deposit at any of the 2,438 post offices in the state. The recipient will then receive a notification of the transfer along with a personalized code through a text message (also known as Short Message Service (SMS)) that will enable the recipient to pick up the money at any post office in Andhra Pradesh.
As of year-end 2012, BSNL has USD 22 billion in total assets and 97.2 million mobile subscribers.
By Brian LeBlanc, Research Associate
About Bharat Sanchar Nigam Limited (BSNL)
Established in 2000, Bharat Sanchar Nigam Limited (BSNL) is an Indian state-owned telecommunications company headquartered in New Delhi, India. As of year-end 2012, BSNL has USD 22 billion in total assets and 97.2 million mobile subscribers.
Sources and Additional Resources:
New Indian Express article, http://newindianexpress.com/states/andhra_pradesh/article1524967.ece
MicroCapital article, February 25, 2013, “MICROCAPITAL BRIEF: Nigerian State of Borno to Pilot National Financial Inclusion Initiative Via Post Offices,” https://www.microcapital.org/microcapital-brief-nigerian-state-of-borno-to-pilot-national-financial-inclusion-initiative-via-post-offices/
MicroCapital article, February 18, 2013, “MICROCAPITAL BRIEF: Airtel Mobile Money Service Expands to Post Offices in Madagascar,” https://www.microcapital.org/microcapital-brief-airtel-mobile-money-service-expands-to-post-offices-in-madagascar/
MicroCapital article, July 11, 2012, “MICROCAPITAL BRIEF: India’s Financial Information Networks and Operation (FINO) Purchases Payment Business from Nokia,” https://www.microcapital.org/microcapital-brief-indias-financial-information-networks-and-operation-fino-purchases-mobile-payment-business-from-nokia/
MicroCapital article, January 10, 2012, “MICROCAPITAL BRIEF: ‘Nokia Money’ Electronic Wallet Service Launched in India in Effort to Promote Financial Inclusion,” https://www.microcapital.org/microcapital-brief-nokia-money-electronic-wallet-service-launched-in-india-in-effort-to-promote-financial-inclusion/
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