Western Union will not provide mobile money transfers in India

[img_assist|nid=10890|title=|desc=|link=none|align=left|width=100|height=36]Not so long ago Airtel, mobile operator, has announced its partnership with Western Union under which the companies were going to make mobile money transfers. However, it appeared that such loud statement was a snap decision. The Reserve Bank of India (RBI) has release its statement on mobile banking which makes the agreement of the two companies null and void.

The main bank of India has stated that all cross-border transactions are not allowed for mobile banking services. The bank thinks that this way it will prevent the money laundering and yhe illegal money transfers.

However, the company s not going to refuse the opportunity to provide mobile money transfers and is going to ask a special permission from the bank to introduce its new service.