India: Is mobile wallet Mobikwik treading on thin ice with ‘annual profit’ offer?

India: Is mobile wallet Mobikwik treading on thin ice with ‘annual profit’ offer?

Currently almost 30,000 tickets are booked daily through the IRCTC android app. Photo: Indranil Bhoumik/Mint

Mobikwik, a mobile wallet company, has announced that it will offer a 6% “annual profit” to its customers who maintain a monthly balance of at least Rs.5,000 in their mobile wallets.

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