The Hindu Business Line

SBI, BSNL unveil mobile wallet

- New Bill puts private-run ports at risk PTI

State Bank of India (SBI) has launched ‘Mobicash Mobile Wallet’ in associatio­n with state-owned telecommun­ications company Bharat Sanchar Nigam Ltd (BSNL). It will provide a mobile wallet to the masses and works with smart as well as normal feature phone. The special feature of Mobicash is that users can deposit cash with BSNL retail outlets and can also withdraw cash from his/her account. The bank said the wallet will initially be available in Punjab, Rajasthan, Haryana and Bihar. The service will then be expanded on pan-India basis by December-end. The government’s bid to create a level-playing field between major and non-major ports through the Major Port Authoritie­s Bill puts the supremacy of the privately-run ports at risk, a report by Kotak Institutio­nal Equities said. The report says the proposed amendments to port regulation­s will be applicable both to existing public private partnershi­p contracts at the state-owned major ports and the upcoming projects as well.

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