The market comes to your mobile

CIOL Bureau
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PUNE: Idea Cellular has introduced SMS based information updates in the commodity markets using a subscription-based model. This service will be available across all Idea Cellular circles in India.

Idea customers will now be able to receive updates about the current prices in the major exchanges as well as spot markets all over the country, 10-15 times a day, over SMS. International markets of China, London and Tokyo, vessel positions and port information will also be covered. Idea Bazaar Bhav on mobiles will initially cover the commodity markets for oil, pulses, cotton and bullion (i.e. gold, silver etc.). In the next phase grains and sugar markets would also be added to the service.

Idea Bazaar Bhav subscription will be offered to postpaid customers at a price of Rs 150 per month and prepaid customers will be able to use SMS pull feature to get the updates as and when required. According to the press release, customers will be able to participate more actively in commodity trading including forward trading and benefit from the real time information updates. It would also keep the traders, brokers and the farmers updated about the current trends in the market. ADCC Research & Computing is powering this service.

Commenting on this service, Idea Cellular CEO Vikram Mehmi said, "With the mobile subscriber base penetrating through deeper sections of India and spreading into rural areas, such a service is a boon to farmers, traders and the masses having their livelihood depend upon agro-based activities."

CEO of ADCC Research & Computing Arun Lakhani said, "Bazaar Bhav will act as a force multiplier to the rural economy empowering farmers to get fair prices and avoid exploitation."