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RBI CIRCULAR
SDS account holders @ 8.7% per annum from 1st Mobile Banking Registration through ATMs
January 2015 to 31st December 2015 through
electronic mode such as ECS/NECS/ NEFT/RTGS or by 2. As advised by us, the National Payment Corporation of
way of account payee cheques on January 01, 2016 India (NPCI) has since developed the mobile banking
itself, subject to instructions, as applicable now, registration service / option on the National Financial
contained in paragraphs 3 and 4 of our circular Switch (NFS). After a pilot with a few banks, the service
CO.DT.No.15.01.001/H-3527/2003-04 dated December is ready to be deployed on ATMs of all the NFS member
30, 2003. banks. The necessary instructions for integration have
been issued to banks by NPCI.
2. Please issue suitable instructions to all your Deposit 3. In view of the above, all the banks participating in NFS
Offices and acknowledge the receipt. should carry out necessary changes in their respective
ATM switches and enable the capability of customer
Yours faithfully, registration for mobile banking at all their ATMs latest
(V S Prajish) by 31st March 2016.
Assistant General Manager
Registration through other Channels and Customer
Mobile Banking Transactions in India - Awareness
Operative Guidelines for Banks -
Customer Registration for Mobile 4. In addition to the above, banks should also strive to
Banking facilitate customer registration for mobile banking
through other channels including internet banking, IVR,
RBI/2015-16/269 phone banking, etc. As customer registration is an
important pre-requisite for offering mobile banking
DPSS.CO.PD.No./1265/02.23.001/2015-2016 services, banks should also use multiple channels to
create awareness among their customers regarding
The Chairman and Managing Director / Chief Executive mobile banking services and options available for
Officers customer registration.
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks / 5. This directive is issued under Section 10(2) read with
District Central Co-operative Banks / Section 18 of Payment and Settlement Systems Act
White Label ATM Operators 2007 (Act 51 of 2007).
6. Please acknowledge receipt.
Madam / Sir Yours faithfully
1. A reference is invited to para 7 of the Master Circular (Nanda S Dave)
Chief General Manager
on Mobile Banking transactions in India - Operative
Guidelines for Banks dated July 1, 2015. Given the high Implementation of Section 51-A of
mobile density in the country, the policy focus of RBI Unlawful Activities Prevention Act
has been to encourage banks to leverage on the mobile (UAPA), 1967- Updates to Al-Qaida
channel for widening the access to banking services.
Irrespective of whether the services are offered Sanctions List
through SMS, USSD or application channels, customer
registration for mobile banking is critical. Towards this RBI/2015-16/268
end, RBI has been reiterating the need for simplification DBR. AML.No.7835/ 14.06.001/ 2015-16
of procedure and greater degree of standardization in
procedures relating to registering of customers for The Chairpersons/ CEOs of all Scheduled Commercial Banks/
mobile banking.
BANKING FINANCE | FEBRUARY | 2016 | 47
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