RBI GUIDELINES ON MOBILE BANKING
Banks should offer mobile-based banking service only to their own customers, be it bank account or credit card account holders.
Banks should have a system of registration before commencing mobilebased payment service to a customer.
There can be two levels of mobile based banking service—the first or basic level in the nature of information like balance enquiry, SMS alert
for credit or debit, status of last five transactions, and many other information providing services. The second or standard level of mobile banking services involve financial transactions such as payments, transfers and stop payments.
Only Indian Rupee-based services can be provided.
When a bank offers mobile payments service, it may be ensured that cus--
tomers having mobile phones of any network operator should be in a position to request for service. Restriction, if any, to the customers of particular mobile operator(s) may be only during the pilot phase.
Regarding inter-operability between banks and between their mobile payments service providers, it is recommended that banks adopt the message formats being developed by Mobile Payments Forum of India.
It new is suggested mobile pin that (MPIN) the banks to users. issue To a facilitate the mobile payments MPIN may be issued and authenticated by the bank or by a mobile payment application service provider appointed by the bank.
In cases where the customer files a complaint with the bank disputing a transaction, it would be the responsibility of the service providing bank to address the customer grievance. Banks should formulate charge-back