Presented By,AGNES SOWMYA

2ND M.COM, 4TH SEMESTER

P.G. CENTRE

HEMAGANGOTRI

HASSAN.

TOPICMOBILE BANKING IN INDIA

Introduction

Current trend of India

Mobile banking services

Benefits of mobile banking

Challenges of mobile banking

Business rules governing mobile banking services.

Modules of mobile banking

Conclusion

contents

INTRODUCTION

The service is presently available on java enabled

mobile phones over SMS/ GPRS/ WAP as also non java

phones with GPRS connection. The service can be

availed over the free GPRS facilities offered by various

mobile service providers. The services for other non-Java

mobile phones are under development and will be

offered using Unstructured Supplementary Services Data

(USSD).

Mobile Banking scores over Internet Banking is that it enables ‘Anywhere Banking'. Customers now don't need access to a computer terminal to access their banks; they can now do so on the go – when they are waiting for their bus to work, When they are travelling or when they are waiting for their orders to come through in a restaurant

Cont…

CURRENT TREND IN INDIA

The scale at which Mobile banking has the potential to grow

can be gauged by looking at the pace users are getting

mobile in these big Asian economies. According to the

Cellular Operators' Association of India (COAI) the mobile

subscriber base in India hit 60.6 million above in the August

2009. In September 2011 it added about 3.85 million more.

The explosion as most analysts say, is yet to come as India

has about one of the biggest untapped markets.

MOBILE BANKING SERVICES

Account Balance Enquiry Account Statement Enquiries. Cheque Status Enquiry. Cheque Book Requests. Fund Transfer between Accounts. Credit/Debit Alerts. Minimum Balance Alerts. Bill Payment Alerts. Bill Payment. Recent Transaction History Requests.

BENEFITS OF MOBILE BANKING

Mobile banking is a technology that allows you to access your bank account from a mobile device, usually a cell phone. There are several benefits to this technology, particularly for activity notification and account management while traveling.

Banking on the GoAccount NotificationAccount SecurityPaying BillsSecurityLocate ATMsMake Deposits

conclusion

CHALLENGES OF MOBILE BANKING

COVERAGEOne of the biggest challenges of mobile banking

is cellular coverage. Across the country there are a number of different providers, but there is not

necessarily nationwide coverage for these providers.SECURITY

. Fraud protection must be developed within the cell

phone company. Network security is out of the control of the bank as well as data access and use.

Cont…

CUSTOMER AUTHENTICATION

It is more difficult to verify a customer's identity with mobile banking. Mobile banking allows for little to no customer contact.

BUSINESS RULES GOVERNING MOBILE BANKING SERVICES

The Mobile Banking Service will be available to all the customers having a

satisfactory running account (Current/ Savings). The customers will have to

register for the services.

Daily transaction limits for fund transfer and bill/ merchant payment will be

Rs.50,000/-per customer with an overall calendar month limit of

Rs.2,50,000/-

The service will be carrier-agnostic i.e. all customers can avail the mobile

banking service with the Bank irrespective of the service Provider for their

mobiles.

The service is free of charge. However, the cost of SMS / GPRS connectivity

will have to be borne by the customer

SMS – SHORT MESSAGING SERVICE

An SMS based service is hosted on a SMS gateway that further connects to the Mobile service providers SMS Centre. There are a couple of hosted IP based SMS gateways available in the market.

WAP – WIRELESS ACCESS PROTOCOL

The following figure demonstrates the framework for

enabling mobile applications over WAP. The actually forms that

go into a mobile application are stored on a WAP server, and

served on demand. The WAP Gateway forms an access point to

the internet from the mobile network.