The Department of Posts and Telecom Company BSNL has launched a Mobile Money Transfer service through which anyone can transfer money from one location to other location instantly.

The service was inaugurated by Telecom Minsiter Kapil Sibal at a function in New Delhi yesterday. The facilites have been rolled out in states like Delhi , Punjab, Bihar and Kerala.

A sender of money under the service, will have to fill a form in Post Office while depositing cash and provide mobile number of the person to whom the money is to be sent.

After completion of this process, the system will generate a transaction ID code that will be sent through SMS to the sender, beneficiary and the post office. Users of this scheme will be charged certain amount of fees while trasferring money.