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Airtel, Axis tie up for mobile banking services

The move will help further the goal of reaching un-banked areas

Press Trust of India  |  Mumbai 

Bharti customers will now be able to open no-frills savings account in through their mobiles and will be able to carry out transactions such as cash deposits, transfers and withdrawals.

Country's largest private mobile operator Bharti and today announced a partnership to provide banking services through Money platform, a move that will help further the goal of reaching un-banked areas.

"Following the recent pan-India launch of Money, we are today excited to collaborate with to further strengthen our mCommerce proposition for customers," Bharti CEO - India and South Asia - Sanjay Kapoor said.

To begin with, savings and remittance solutions will be provided in Delhi and Mumbai on the sending side, and Bihar and East UP on the receiving side.

Thereafter, these services may be extended to other remittance corridors in the country, the company said.

"According to estimates, nearly 43% of the country's population does not have bank accounts...The 'money Super Account powered by Axis Bank' acts as a no-frills bank account that comes with remittance capabilities," Kapoor said.

Leading IT firm Infosys is the technology innovation partner for the offering.

"Our alliance with will help the Bank to reach out to excluded segments of our population, both in rural and urban centres, with reasonably priced banking and financial services," MD and CEO Shikha Sharma said.

First Published: Wed, May 16 2012. 13:48 IST