The Reserve Bank of India, on Thursday, asked banks to make the registration process for mobile banking services easy, and activate the services at the earliest to expand the reach of mobile banking.
Releasing the operative guidelines for mobile banking transactions, the RBI said there is a slow pick-up of mobile banking services despite the high mobile density in the country. Banks should strive to provide options for easy registration for mobile banking services to their customers, it added.
“The time taken between registration of customers for mobile banking services and activation of the service should also be minimal,” the RBI said. — PTI
Oommen Ninan adds:
The RBI told banks to use mobile-banking in a widespread manner with standardisation in procedures relating to on-boarding of customers for mobile banking as also the subsequent processes for authentication, including accessible options for generation of MPIN by customers.
The central bank also advised banks that in order to quicken the process of MPIN generation and also widen the accessibility of this process to their mobile banking registered customers, banks could consider adopting various channels and methods, including a ‘common website’ which could be designed as an industry initiative.
Lack of awareness “Lack of awareness as well as standardisation of procedures at banks also adds to the problems which have led to a situation of slow pick-up of mobile banking services despite the high mobile density in the country. This is of particular importance when customers are using inter-operable mobile banking platforms,” the RBI said in a notification to banks.
The RBI observed that as banks had started offering mobile banking services at different points of time, there were differences in procedures adopted by banks for registering customers for mobile banking as well as in the channels of delivery and authentication process.
