A technical committee of the Reserve Bank of India has recommended fiscal incentives to push mobile banking in addition to making customer enrollment easier and faster by adopting common technological interfaces and platforms that can span all banks.
The committee in a report on Friday said that the minimum limit for unsecured transaction through mobile banking could be raised to Rs 10,000 from the current Rs 5,000.
The committee has recommended that banks must adopt a multiple channels for mobile banking and also a common mobile getaway to avoid the challenges that banks face while tying up with multiple mobile network operators.
"While bank-specific applications and individual platforms have a major role in building brand loyalty, an alternate uniform/common platform, interoperability and similar seamless transactional experience to the users/customers of all banks would encourage mobile banking," the report said.
Large telecom companies could initiate pilot programs to develop the single multi-bank mobile banking applications that can use published public keys of the banks / banks’ agents for encryption, the committee recommended.