Today, the Bank is more than the stated number of mobile subscribers. With the mobile penetration in urban areas – with the rapidly growing rural areas. Mobile penetration in providing banking services – with the reduction of costs, given the country’s Major banks and promote the rapid expansion of mobile banking services are there, Reserve Bank of India has taken several steps to make it operable.
Opening via mobile, fixed, to transfer funds, check account balances, checkbook facilities etc. You can procure. Including ATM and credit cards to customers with the transaction also gives alerts. According to senior officials of the Bank of the mobile transaction was the transaction branch is nearly 10 times. In addition, 90 thousand banking branches in the country, which is significantly lower than the country’s 1.2 billion population. Given the broad reach of the mobile banking services to all through it would be quite easy to reach. Given its feature all the major banks are encouraging customers to mobile banking.
State Bank of India currently has 52 million subscribers registered for mobile banking. The nearly two million customers is growing every month. HDFC Bank customers easy mobile banking and mobile banking services in Hindi to reach more people have started. Banks, telecom companies are also limited by the Reserve Bank through mobile banking services is allowed. The companies are offering mobile services Valet name. Airtel Money service that is provided by the company. Valet service via the mobile client Telecom and its mobile payment in the place could also be your friendly person. With that amount through the card may also like shopping. However, a subscriber can not withdraw.
Many challenges remain
With the merits – has its own challenges with mobile banking. The number of mobile subscribers in the country, notwithstanding the number of customers who use smartphones still have between 15-20 per cent. Customers without banks or telcos can not download the mobile banking application.
They will have to be content with simple SMS on the phone, she can not use all the features. According to bankers, the way in mobile banking facilities are increasing, given that in the next 5-7 years will be very popular.