Mobile banking is not a novelty in India
anymore. But now IndusInd Bank, which had acquired Deutsche Bank’s
Indian credit card unit in April, has launched a m-banking app that
allows customers to authorise cash withdrawals without using a
card.

The bank said the app, called IndusMobile,
would come “A absolutely no cost charged by the bank and at high
level of safety”.

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The key feature of the app is cash withdrawal
from ATMs without a debit or credit card – which the bank claims is
the first such service available in the Indian market.

Other features of the app include booking
cinema tickets, bill payments and fund transfers.

Sumant Kathpalia, Head Consumer Banking
IndusInd Bank, said:

“IndusMobile is a comprehensive Mobile banking
platform that enables our customers to manage their banking needs
with incredible ease. This new application will serve as a key
customer touch point that complements the bank’s physical branch
network”.

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He added: “With mobile phones becoming an
integral part of our lives, IndusMobile will provide a Safe, Secure
and Personalized service delivery channel for the Bank to reach out
to its customers. The Bank has been consistently introducing
innovative products & services and IndusMobile is another such
service designed to make banking a pleasurable experience.”

The app’s other features include:

  • Balance Enquiry
  • Mini Statement
  • Intrabank Funds Transfer
  • Mobile to Mobile Funds Transfer
  • Mobile to Account Funds Transfer
  • Interbank Funds Transfer
  • Net Electronic Funds Transfer (NEFT)
  • Interbank Mobile Payment Service (IMPS)
  • Visa Credit Card Bill Payment
  • Mobile Payments and more
  • Online Requests (Cheque Status, Stop
    Cheque)
  • Offline Requests (Cheque Book, Debit Card,
    DD, Statement)

Since setting up shop in 1994, IndusInd Bank’s
distribution footprint has grown to 258 branches and 565 ATMs. In
the third quarter of fiscal 2011, retail lending comprised 42% of
IndusInd’s loan book, down from 58% in fiscal 2008.