Mobile Banking in India – SBI, UBI, BoI to roll out Mobile Banking Applications

In Mobility & Consumer Tech by Ashish Sinha17 Comments

Now that RBI has granted permission to transfer funds across various mobile-phone service providers, 3 public sector banks are rolling out their mobile banking solutions in the next few days.

State Bank, said it is in the final stages of its M-Banking roll-out and has scheduled its launch in late July while Bank of India and Union Bank of India plan to introduce their services by end-June. SBI, which has partnered with

Mumbai-based technology services provider, Spanco Systems, is understood to have plans to tie-up with a number of service providers to take the service to the far-corners of the country.[source]

RBI Mobile Banking Guidelines

Quick excerpts from RBI’s Mobile Banking guidelines:

  • When a bank offers mobile payments service, it may be ensured that customers having mobile phones of any network operator should be in a position to request for service.
  • The long term goal of mobile payment framework in India would be to enable funds transfer from account in one bank to any other account in the same or any other bank on a real time basis irrespective of mobile network a customer has subscribed to. This would require inter-operability between mobile payments service providers and banks and development of a host of message formats.

RBI Guidelines

Comments

  1. ApnaBill.com

    Online prepaid mobile recharge for Airtel, Vodafone, Idea, Reliance, Tata Indicom, Spice, MTNL, BSNL, BPL at http://www.ApnaBill.com – for all locations across India.

    – 100% safe transactions
    – No transaction surcharge – 100 bucks coupon for just 100 bucks!
    – Great discounts!
    – Netbanking for almost all banks
    – Excellent customer support

    Visit today – http://www.ApnaBill.com

  2. Abhishek Rao

    Mbanking is surely reaching new heights with the RBI releasing its guidelines for the same. Considering many Indian banks are going in for mobile banking, there are some foreign banks which have started mobile banking in a completely simple and user friendly way. One of them is Barclays bank with Hello Money services. For more info check out http://www.barclays.co.in/hellomoney

    1. nishant

      dear sir i am nishant from allahabad i want some matters on the topic;;;;;:-
      1. Some analysts feel that online and mobile banking have changed the face of banking in India. Giving examples of some recent online or mobile banking initiatives in India or abroad, explain the advantages and risks associated with such initiatives. What steps can banks take to mitigate the risks of online/mobile banking?
      you plz help me…..

      1. Buckhingam Palace

        Ahahaha!.. :P
        U also going for the ICFAI presentation thing??! :P
        hahahaha.. :P

  3. Hradayesh

    Sir how can i recharge my mobile through sbi atm card or sbi net banking,,,.

  4. Bappa Dey

    sir, i am a retailer of mobile recharging retailer how can i recharge coustomer’s mobile through sbi atm card or sbi net banking,,

  5. ELANGO

    Sir how can i recharge my airtel mobile through sbi sbi net banking

Leave a Comment