Select the correct statement/s regarding Mobile Banking.a)Mobile banking services provided by banks should be totally dependent on one/two of the Mobile Network providers in the country.b)Public Sector Banks are providing Mobile banking with major two objectives offering an additional user-friendly channel and wooing the younger generation of customers.c)Mobile banking transactions involving debit to account shall be permitted only by the validation through a two-factor authentication.d)Only (b) and (c)Correct answer is option 'D'. Can you explain this answer?

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Select the correct statement/s regarding Mobile Banking.

a)
Mobile banking services provided by banks should be totally dependent on one/two of the Mobile Network providers in the country.
b)
Public Sector Banks are providing Mobile banking with major two objectives offering an additional user-friendly channel and wooing the younger generation of customers.
c)
Mobile banking transactions involving debit to account shall be permitted only by the validation through a two-factor authentication.
d)
Only (b) and (c)

Correct answer is option 'D'. Can you explain this answer?

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Select the correct statement/s regarding Mobile Banking.a)Mobile banki...

Only statements (2) and (3) are true regarding Mobile Banking Services provided by the banks.
Banks offering mobile banking service must ensure that customers having mobile phones of any network operator is in a position to avail of the service, i.e. should be network independent. Restrictions, if any, for the customers of particular mobile operator(s) are permissible only during the initial stages of offering the service, up to a maximum period of six months subject to review.
The long term goal of mobile banking framework in India would be to enable funds transfer from an account in one bank to any other account in the same or any other bank on a real time basis irrespective of the mobile network a customer has subscribed to. This would require interoperability between mobile banking service providers and banks and development of a host of message formats. To ensure interoperability between banks, and between their mobile banking service providers, banks shall adopt the message formats like ISO 8583, with suitable modification to address specific needs.

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Select the correct statement/s regarding Mobile Banking.a)Mobile banking services provided by banks should be totally dependent on one/two of the Mobile Network providers in the country.b)Public Sector Banks are providing Mobile banking with major two objectives offering an additional user-friendly channel and wooing the younger generation of customers.c)Mobile banking transactions involving debit to account shall be permitted only by the validation through a two-factor authentication.d)Only (b) and (c)Correct answer is option 'D'. Can you explain this answer?

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