Reserve Bank Governor D Subbarao said that protection of customer information and confidentiality is on the priority list as there are growing concerns about the increase in cyber crimes, phishing-related frauds, identity fraud and misuse of customer information. RBI proposed to set up a working group on information security, electronic banking, technology risk management and tackling of cyber frauds. […]
The Reserve Bank of India has permitted YES Bank to provide mobile money services in association with Nokia. Any of the two lakh Nokia retail outlets across India can sign you up for the service. All you need is to fill a form which makes you an account holder with YES Bank within 15 minutes! Then you deposit a amount at the Nokia outlet and in minutes the ‘credit’ appears on your mobile phone. […]
The Reserve Bank of India has hiked the daily ceiling for banking transactions through mobile phones to Rs 50,000, from the present cap of Rs 15,000. RBI has also placed cap of Rs 5,000 per transaction and Rs 25,000 on per month per customer, on mobile banking transaction, if the delivery to recipient is in cash. […]
The Reserve Bank of India issued a new set of guidelines for Mobile Banking in India. Internet login IDs and Passwords can be used for mobile banking. Transfer maximum of Rs. 5000 daily, and purchase goods or services worth Rs. 2500. Physical presence needed for registration. […]
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