The Telecom Regulatory Authority of India (TRAI) and the Reserve Bank of India (RBI) reached an understanding in June 2010 on the regulatory aspects of mobile banking. The objective of the bodies is to ensure a smooth rollout of mobile banking in the country. TRAI will deal with all interconnection issues and RBI would look into banking aspects like the maximum amount of transaction per day, know-your-customer guidelines and verification criteria etc.
An Understanding between TRAI & RBI on Mobile Banking
By Jagranjosh
Oct 11, 2010, 16:02 IST
The Telecom Regulatory Authority of India (TRAI) and the Reserve Bank of India (RBI) reached an understanding in June 2010 on the regulatory aspects of mobile banking. The objective of the bodies is to ensure a smooth rollout of mobile banking in the country.
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