Union Minister of State for Home Affairs, Communications and Information Technology, Gurudas Kamat launched the Mobile Money Transfer Service (MMTS) in Chandigarh today. This service will be provided by the Department of Posts through its post offices in technological tie-up with Bharat Sanchar Nigam Limited.
The service would facilitate money transfer by just sending one SMS from a mobile phone. MMTS network will especially benefit people living in rural and far-flung areas. MMTS will have flexible limits for money transfer extending up to Rs 50,000. This service will complement the existing computer-centric Instant Money Order service and the Electronic Money Order service.
Kamat said the launch of MMTS is a step towards the central government’s target of taking the benefit of economic growth of the country to the grass-root level ensuring financial inclusion of ‘aam aadmi’ in mainstream development.