What is Mobile Banking?
Mobile banking is a service that provided by a banks and allows customers to conduct all the financial transactions by using mobile devices such as a smartphone or tablet to perform online banking tasks while you are away from your home computer, From mobile banking you can monitor account balances, transferring funds between accounts, bill payments.
How To Use Mobile Banking?
Most banks offer mobile banking services because the mobile phone is the most easily accessible and widely used device and convenient for customers to carry out. Steps to follow for mobile banking:
App: For mobile banking customers require application (APP) from the play store.
Registration: To use this feature first you need to register for mobile banking by filling up a form and submit id proof with form to a bank branch.
Activation: Some banks allow the customer to set a PIN. Customer must enter PIN each time to access the mobile banking.
Login: After the activation process customer needs to use his net banking login id and password to access the account. For security purpose there must be OTP ( one time password ) system.
The government requested to all banks to provide the mobile banking facility for all customers by March 31 in a bid to push digital transactions.The government has been aggressively pushing payments through digital platforms, due to that demonetisation process from November 8.
The government requested all the banks to provide the mobile banking services to all customers by March 31 in an attempt to push digital transactions. We are asking banks to run a nationwide campaign until March 31 to make sure that all customers who own a mobile phone are enabled for using mobile banking.IT Secretary Aruna Sundararajan told reporters here this is a part of government effort to boost up the digital payment system in India. Previously the mobile banking was not a priority, and also customers may not show any interest that they want mobile banking services, but today this is mandatory. This is to ensure that whoever wants to do the mobile banking, but has not Been done should be enable by this March 31.
Sundararajan said that customers who are using UPI or BHIM app should automatically be enabled for the mobile banking. Earlier, a research in Kenya proves that the mobile banking can actually help the Indians beat poverty. Research shows that service allows people to make monetary transactions with mobile phones, helped lakhs of people beat poverty in Kenya with in 10 years.