Bharat Sanchar Nigam limited (BSNL) along with the State bank of India (SBI) on Saturday launched MobiCash app in four states of the country.
Addressing a press conference here, chairman cum managing director (CMD) of BSNL Anupam Shrivastava said, "The app has been launched in Haryana, UP, MP and Bihar at the outset. Gradually it will be launched all over the country to promote cashless economy."
The service will be available in Madhya Pradesh from January 1. He said once the app is downloaded, it works on both the smart and feature phones. Once a customer registers, he or she can avail both the cash in and cash out facilities with help of a network of BSNL franchises and retailers. On declining market share of BSNL in India, he said that from 2006 to 2012 the market share went down to 6%, but now it is reviving and BSNL has 10% share of mobile phone users in India. "Our target is to make it 15% soon," he said.
