RBI allows mobile banking transactions from ATMs

摘要

To encourage the use of mobiles for banking transactions, the Reserve Bank of India has allowed the National Payments Corporation of India (NPCI) to facilitate money transfer by a bank customer from an ATM/Internet to a beneficiary's mobile phone. The RBI's permission is to expand the scope of the money transfer mechanism through the NPCI-promoted Interbank Mobile Payment Service (IMPS) and fasten the pace of mobile banking transactions, which are growing at a slow pace.