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All banks must enable mobile banking by March 31: Govt
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SME Times News Bureau | 04 Mar, 2017
In a move to promote digital transactions post-demonetisation, the
government on Friday said it has asked banks to provide mobile banking
facility to all customers by the end of the current fiscal on March 31.
"Ministry
issues advisory to banks to enable mobile seeding, Aadhaar seeding of
bank accounts along with enablement of Mobile Banking for all its
savings bank customers on a campaign mode by March 31, 2017," an
Electronics and IT Ministry (MeitY) statement here said.
"As per
an estimate, currently only 65 per cent saving accounts are seeded with
mobile numbers and only 50 per cent are seeded with Aadhaar numbers. Out
of the 65 per cent accounts already seeded with mobile numbers, only 20
per cent are enabled for mobile banking," it said.
To make the
process of 100 per cent seeding of bank accounts convenient to
customers, the ministry "has advised the banks to explore 'Over the Air'
customer consent instead of requiring customers to visit the bank
branch or ATM as is required currently," the statement added.
Declaring
that the process of enabling the bank accounts for mobile and
Aadhaar-based banking is "completely voluntary", the statement said:
"However, given the benefits of these banking channels, a large number
of customers are expected to opt for it."
Speaking to reporters
earlier this week, IT Secretary Aruna Sundarajan elaborated on the
rationale behind the move following the recent demonetisation of high
value currency and the government's campaign to encourage digital
transactions.
"The reason is earlier mobile banking wasn't such a
priority. And therefore, many customers may not have said they want
mobile banking services. But today, they want it," she said
Sundarajan
also said customers who are using the Unified Payments Interface (UPI)
or Bharat Interface for Money (BHIM) payment app should be automatically
enabled for mobile banking.
"We have said that any customer who
accesses UPI or BHIM, should automatically be enabled for mobile banking
because it means they want mobile banking. This is to ensure that
whoever wants to do mobile banking but has not been enabled, should be
enabled by March 31," she said.
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