The Reserve Bank of India is likely to finalise guidelines on mobile banking within two weeks that would enable banks to roll out mobile-based payment services to their customers, a senior RBI official said today.
“We are presently examining the comments received in response to the draft guidelines issued. Based on this, the final guidelines would be issued within two weeks,” RBI Executive Director R B Barman told reporters here on the sidelines of a seminar.
According to the m-banking draft guidelines issued in June, banks can use SMS-based facilities to perform small-ticket payments up to Rs 1,500. Public sector lenders SBI and Union Bank of India are on the final stages of launching their m-banking services.