Mobile Banking in India: Imperative and Challenges

Technology plays an important role in banking sector. Banking is one of the largest financial institutions constantly explores the opportunity of technology enabled services to provide better customer experiences and conveniences. Mobile banking (also known as M-banking, sms banking) is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as mobile phone. The increased prevalence of mobile phones provides exciting opportunities for the growth of mobile banking (m-banking). These papers are classified into five main categories: m-banking overview and conceptual issues, Features & Benefits of Mobile Banking, Current operating practices of commercial banks, Mobile banking/payment practices in Indian Commercial Banks and Challenges in India strategic, legal and ethical issues.