WU WILL NOT PROVIDE MOBILE MONEY TRANSFERS IN INDIA

Updated: 10/27/2008 19:00
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Not so long ago Airtel, mobile operator, has announced its partnership with Western Union under which the companies were going to make mobile

Not so long ago Airtel, mobile operator, has announced its partnership with Western Union under which the companies were going to make mobile money transfers. However, it appeared that such loud statement was a snap decision. The Reserve Bank of India (RBI) has release its statement on mobile banking which makes the agreement of the two companies null and void.

The main bank of India has stated that all cross-border transactions are not allowed for mobile banking services. The bank thinks that this way it will prevent the money laundering and the illegal money transfers.

However, the company s not going to refuse the opportunity to provide mobile money transfers and is going to ask a special permission from the bank to introduce its new service.


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Nicole Berger has over seven years experience writing and editing for online and print media. She has held various editor and associate editor positions in some of forefront independent media publications. A consistently dependable team player, I thrive in a high-pressure environment, enjoy the challenges of meeting deadlines and managing a team, and am comfortable researching, writing and editing on a wide range of topics.
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