Reliance Communications (RCOM) on Thursday launched “Money Transfer” through mobile phones across the country along with ICICI Bank. This initiative offers Reliance Communications subscribers an easy means of account to account transfer associated with banks and other agencies, in the most talked about ‘Money Transfer’ space. 

 Money Remittance market opportunity is estimated to be in the range of $24 billion annually including global remittances to India.

   Now ICICI Bank’s customers can transfer money anytime and anywhere in the country using their Reliance mobile phones.This service is available on Reliance Mobile World enabled phones including the  Reliance Classic phones.

Anil Pande, Head Product Development, Reliance Communications said, “Our association with ICICI Bank brings a paradigm shift in the way domestic Money Transfer business is conducted in India.”