View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Distribution
October 11, 2013updated 04 Apr 2017 4:10pm

The Reserve Bank of India unveils technical committee on mobile banking

The Reserve Bank of India has announced the institution of a technical committee to assist in its mobile banking strategy.

By Isabella Grotto

The Reserve Bank of India has announced the institution of a technical committee to assist in its mobile banking strategy.

Tasked with submitting its report by the end of December 2013, the committee has been set up to look into the feasibility of expanding mobile banking in the country.

In particular, the committee will advise on the potential for a mobile application which enables the transfer of funds through an ‘SMS encrypted environment’.

The bank has instructed that the report also include an alternative solution for the expansion of mobile banking, as well as an in-depth analysis of the challenges facing the expansion of mobile banking.

Initially composed of nine people, the committee may employ mobile payments specialists, with the bank further inviting the public to submit suggestions through its department of payment and settlement systems.

The technical commission’s end-of-year report is also to include ‘a road map for implementation of the solutions/options recommended’, according to The Reserve Bank of India.

 

Related articles:

Reserve Bank of India permits cash withdrawals with prepaid cards at POS

Reserve Bank of India receives 26 applications for licences

Reserve Bank of India to target inclusion

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International