HDFC Bank, ICICI Bank & SBI leads in mobile banking transactions

Mobile banking is seeing sharp growth due to increased penetration of smartphones. The customers are getting more comfortable with mobile banking, ecommerce, etc,

HDFC Bank with Rs 4,906.86 crore worth mobile transactions in January 2015 is the leader in mobile banking. HDFC is followed by ICICI Bank,with transactions worth Rs 2,224.97 crore ,followed by SBI with Rs 1,586.4 crore and Axis Bank with Rs 1,440.61 crore worth of transactions.

HDFC Bank is also launching a mobile banking application (app) that will be available on the Apple Watch. HDFC Bank will be the first Indian bank to have its app on the Apple Watch.

Among public sector banks, Canara Bank saw the fastest growth in mobile banking transactions. Its mobile banking transactions increased to Rs 883.47 crore in January 2015 compared to Rs 7 crore in January 2014.

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