• Login to way2sms.com
• Register your mobile number
• Verify your mobile number by entering the unique ID you will receive on your mobile through SMS
• Create an email address on way2sms e.g somebody@way2sms.com
• Set rules in your Gmail or Yahoo account to forward all or selected emails to your unique way2sms email account
• Create email alert notifications for your email Inbox if way2sms
• Configure the alerts as per your time preference
• Set rules for exceptions, if you want

Pros

• The SMS notifications sent by the service are free of cost
• Multiple email accounts can be configured for the service even from the same service provider (e.g Gmail)
• You have the option to set exception rules and preferred timings for receiving SMS

Cons

• The main service of way2sms is to provide free SMS for India. The email notification alerts through SMS is just an add on tool
• The usability of the site is a bit shabby and you will struggle to get accustomed to it initially
• You need to login to the service within every 14 days to re-activate the alerts
• The registration and initial setup process is it lengthy

Said that, I still found this tool to be a good utility. Do not forget to share your experience with us.

[Update]

How to forward emails from your Yahoo [India] Account?

Forwarding Mails in Gmail:

1.Login to Gmail.com.

2. Goto “Settings” at the Top right hand side.

3. There will be many tabs under the Settings menu and by default it will be on “General”.

4. Click “Forwarding and POP/IMAP”

5. In Forwarding , enable the radio button “Forward a copy of incoming mail to” and enter the E-mail address to which the Emails to this E-mail id are to be forwarded.(In our case, it will be XXXXX@way2sms.com)