Mobile banking in India is set to pick up momentum
Join Banknet Payments Conference on 22nd Jan 2010 at Mumbai

India’s mobile phones will reach more than the targeted half billion people by the end of 2010 or 60 per cent of the tele-density, going by the country’s telecom ministry estimates. According to a report, approximately 43 million urban Indians used their mobile phones to access banking services during quarter ending August, 2009, a reach of 15% among urban Indian mobile phone user.

Reserve Bank of India (RBI) has taken progressive steps to accelerate the rollout and adoption of mobile banking services. Based on the requests received from the banks, the Reserve Bank of India has now hiked the daily ceiling for mobile banking transactions to Rs 50,000 per customer for both funds transfer and transactions involving purchase of goods and services.

Thirty-two banks have been given approval to provide mobile banking services in India. Of this, 21 banks have already started providing these services to their customers. ICICI Bank now has eight million customers registered for mobile banking services. It is closely followed by HDFC Bank & State Bank of India.

Mobile banking is also seen as the most promising front end technology for broadening the access of banking in the country. Immense potential of mobile banking in the process of financial inclusion and financial growth is now well acknowledged.

In RBI's Vision for Payment Systems in India- 2009-12, Mobile payments settlement network is one of the major projects intended to be pursued by banks.

Technology will play a major role in these initiatives and will provide vendors new business opportunities in India.

Banknet is organizing "Sixth Annual Conference on Payments" on the 22nd January 2010 at Taj Lands End, Mumbai and will bring together participants from nearly 75 organizations. Top Level Speakers from RBI, National Payments Corporation of India, Insurance Cos, IT Cos, Business Schools and 15+ Major public sector, private sector, foreign & co-op banks are invited address the conference.

In addition to four interactive sessions, conference will also feature Banknet Master Class on Mobile Banking in a formal lecture/ presentation format, combined with practical & interactive case studies.Conference will also feature a Technology Exhibition.

Conference will deliberate on- RBI's Vision for Payment Systems, RTGS, NEFT, NECS, Cheque Truncation Systems, Clearing & Settlement Systems, Financial Inclusion, Customer Service, Financial Frauds, Cyber Security, Internet Banking, Mobile Banking & Payments, M commerce, ATMs, Card Payments etc.

If you want more information on the Largest Annual Payments Conference in India, mail us at Or Click here

Reserve Bank of India modifies guidelines for Mobile Banking Transactions...Click here

For Special Section on Mobile Banking & Payments...Click here

"Banknet Conferences, are one of the largest organizers of Banking and Technology Conferences from India. Banknet Conferences organizes series of highly focused conferences, seminars and workshops, which provide a platform for knowledge sharing and networking for the professionals. Being part of "Banknet Group" it has access to relevant industry research, information and large database of professionals. More than 700 Financial Institutions / Companies from 24 countries had been represented at Banknet Conferences. This included delegates from nearly every major bank in India. Banknet Conferences had been supported by more than 100 major IT Companies and Financial Institutions from 11 countries "