Mobile Banking

RBI Removes INR 50K Cap on Mobile Banking Transactions

By sinha No comments

RBI (Reserve Bank of India) has removed INR 50,000 cap on mobile banking transactions. However, banks may place per transaction limits based on their own risk perception with the approval of its Board. Mobile banking in India is set to … Read More »

mobile banking

06 May

Mobile Banking: Transaction Limit For Mobile Wallet Card Increased to INR 50K

By Team PI 3 Comments

RBI has upped the transaction limit for mobile wallet card to Rs. 50,000, bringing semi closed m-wallets on par with the other semi-closed prepaid instruments. Semi-closed wallet are prepaid payment instruments that are redeemable at a group of clearly-identified merchant … Read More »

mobile banking

21 Mar

Mobile Banking: Nokia Partners with Union Bank of India

By Team PI 2 Comments

Nokia Partners with Union Bank of India Nokia has partnered with Union Bank of India to launch a mobile-to-mobile cash transfer service called Union Bank Money, which would allow any mobile users on any network to shop, pay utility bills, … Read More »

mobile banking

16 Sep

Airtel Gets RBI’s Nod for Mobile Payment Service [First Step to Mobile Currency]

By sinha No comments

Imagine this. You go to a retail chain and instead of paying via credit card/cash, you exchange your m-currency for the goods bought. Well, an ideal m-world, but the foundation has been laid with RBI approving Airtel to launch its … Read More »

mobile banking

04 May

Nokia Mobile Money Transfer Services In India [Complete Details]

By Guest Author 3 Comments

Mobile Money Services is the much talked about Nokia Money Project that was approved by RBI few days back. Officially launched by Yes Bank, powered by Nokia and Obopay, this service is one of the first end to end solutions … Read More »

microfinance india, mobile banking, mobile payment, Mobile wallet, nokia money, nokia wallet, obopay india, yes bank

21 Jan

SEBI mulls Mobile Trading, RBI Increases Daily Transaction Limits [mCommerce Boost]

By sinha 1 Comment

RBI Increases Daily Transaction Limits RBI issued mobile banking guidelines way back in September, 2008 and by all means, it was a conservative approach towards mobile banking (read: Interview with Sanjay Swamy of mChek on RBI Guidelines). RBI has now … Read More »

mobile banking

24 Jul