Business

Users can now register themselves to Mobile Banking through ATM

Written by Harshad Patankar

Registering to mobile banking is such a huge task if you bank with the nationalised  banks. Though some of the banks really have updated their system for faster rolling out the digital banking services. As the all NationalFinancial Switch (NFS) banks have got directions from The Reserve Bank of India (RBI) which has asked all banks to make changes to their ATMs so that they can allow customers to register for mobile banking.

“The National Payment Corporation of India (NPCI) has since developed the mobile banking registration service / option on the National Financial Switch (NFS). After a pilot with a few banks, the service is ready to be deployed on ATMs of all the NFS member banks,”

the RBI said in a notification.

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The network of212,501 ATMs managed by the NFSAs of November 2015 is a India’s largest network of shared and interconnected ATMs developed by the Institute for Development and Research in Banking Technology and managed by the NPCI.

NFS’ networks which includes various banks which includes commercial banks, co-operative banks, regional rural banks and white label ATM operators. RBI said that all banks which are in NFS have to make changes to their ATMs by the end of this March 2016 , also allow registration for mobile banking should be allowed via ATM. Banks should also facilitate customer registration for mobile banking through other channels including internet banking, IVR, phone banking. With the #DigitalIndia mission more users are getting online and there is sudden increase in the number of transactions and as of September 2015, the RBI reported that there were 27.11 million transactions through mobile banking channels which was worth Rs 2660 crore.

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The more features are coming to the ATM where there is no need for human interference and One of the largest National bank Bank of Maharashtra have integrated recharging  Paytm  with ATM .

About the author

Harshad Patankar

My name is Harshad Patankar and I am the chief blogger at BumbleBeeHub Blog and where I like to share my internet/tech experience along with some fascinating updates around the Business, Technology, Education and Government sectos with my online readers on this website. You can read more about me at my About Page. You can follow me on Twitter, Facebook & Google