What is ‘Mobile Money’? - Budget & Economic Survey

Q.  What is ‘Mobile Money’?
- Published on 06 Aug 15

a. Money that can be transferred and moved easily
b. New currency mechanism for instant payment
c. Mechanism of delivering direct cash benefits
d. Credit cards, ATM cards and Debit cards

ANSWER: Mechanism of delivering direct cash benefits
 
Aadhaar registrations include the mobile number of a customer. With several cell phone operators reportedly applying for a payment bank license, mobile money platforms offer tremendous opportunities to direct Aadhaar based transfers.

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