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India Post Launches Mobile Based Money Order Service; Tie-Up With BSNL

India Post has tied-up with Bharat Sanchar Nigam Limited (BSNL) to launch a mobile based money order service, reports The Hindu Business Line. Most media reports indicate that, initially it will be piloted in Punjab and Bihar, and will be later extended to other parts of the country, in a period of eight weeks. However, according to The Financial Express, the pilot would last eight weeks, and the service will be made pan-India in two years time. We have not been able to verify this, since there's no official announcement on the Indiapost website. Why can't BSNL act as a Banking Correspondent? This much looks like an extension of India Post's Instant Money Order service, however, it looks like BSNL is only a technology provider/enabler and not a Banking Correspondent. Users need not be BSNL customers to use the service. We…

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