Usage of Mobile Banking in India

Abstract

Mobile banking is a service provided by a bank or other financial institution that allows its customers to perform online financial transactions while away from the home computer, such as obtaining account information and statement. fund transfer, payment of bill, tax and insurance premium, placing order for cheque books and demand drafts, opening /closing of fixed deposits. giving 'Stop Payment' instruction etc. In fact, almost the full range banking services. except cash transactions. is now available on a smart phone or tablet through the use of specialised apps. From the bank's point of view. mobile banking reduces the cost of handling transactions by reducing the need for the customers to visit a bank branch. while the customer finds it convenient to conduct his banking transaction from his home. office or even while on a journey. Thus mobile banking pro, ides a win-win situation for both the bank and the customer.