New Delhi: To help banking customers, the Reserve Bank of India (RBI) on Thursday said that they will now be able to register for mobile banking services through automated teller machines (ATMs) as well.
The central bank directed all banks participating in the National Financial Switch (NFS), a network that connects ATMs, to carry out necessary changes in their respective ATM switches and enable the capability of customer registration for mobile banking at all ATMs by 31 March. Till now customers could register for mobile banking either through submitting physical papers or through the Internet.
The RBI said the National Payment Corp. of India (NPCI), India’s domestic payment solution provider backed by the central bank, has developed the mobile banking registration option on NFS.
“After a pilot with a few banks, the service is ready to be deployed on ATMs of all the NFS member banks. The necessary instructions for integration have been issued to banks by NPCI," RBI said in a notification.
RBI’s circular on operative guidelines for mobile banking transactions in India states that banks should strive to provide options for easy registration for mobile banking services to their customers, through multiple channels, thus minimizing the need for the customer to visit the branch for such services.
It also states that the time taken between registration of customers for mobile banking services and activation of the service should also be minimal. The circular was issued on 1 July.