India's Mobile Banking Regulations Prioritize Responsible Growth

Published by: IDC

Published: Nov. 25, 2008 - 4 Pages

Table of Contents

Abstract

This Financial Insights NewsFlash looks at the Reserve Bank of India's (RBI's) recently released guidelines regulating mobile banking operations and transactions within the country. As an alternative banking channel, mobile financial services are of increasing interest to financial institutions in developing countries because of the relatively low transaction costs and the sheer number of people who own mobile phones. India, for example, has an estimated 325 million mobile phone subscribers compared with roughly 30 million Internet users.

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