Mobile Banking services
A
mobile phone is no longer a simple device to make calls. It's become
the hub for all your activities, from e-mailing and browsing to paying
bills and transferring money. Banks may have been the first to dip their
feet into this technological pool, but telecom companies have begun to
catch up. The RBI's step to remove the 50,000 cap that it had imposed
earlier on daily mobile transactions has also provided the much-needed
boost to mobile banking.
How does mobile banking work?
Mobile banking allows you to conduct financial transactions on your phone just as you would at a bank branch or through Net banking. Banks are now evolving this facility as they launch innovative products.