logo

 +91 040-24736330

  • facebook
  • twitter
  • linkin
  • whatsapp
Latest News

Mobile Banking

Operative Guidelines Adopted by the Bank for Mobile Banking Services.
  1. Our services will be restricted to customers of our bank only.
  2. Only Indian Rupee based domestic services shall be provided.
  3. For mobile banking services bank will follow the guidelines issued by RBI on “ Know Your Customer (KYC)”, “ Anti Money Laundering (AML)” and Combating the Financing of Terrorism (CFT) from time to time.
  4. Banks will file Suspicious Transaction Report (STR) to Financial Intelligence Unit_ India (FIU-IND) for mobile banking transactions as in the case of normal banking transactions.
  5. All registered customer for SMS banking will be eligible for IMPS as beneficiary, MMID for their accounts will be sent to them by SMS/Letter on request.
  6. To register for mobile banking services a new customer will have to submit a signed Mobile Banking Application form that includes terms and conditions as prescribe by RBI in its guidelines for mobile banking.
  7. Transaction authentication.
    • Two factor authentication will be done for any/all transactions using mobile phones.
    • One of the factors of authentication shall be the use of MPIN
    • Security features will be enhanced and provided as per changing best practices for authentication in the banking industry
  8. Data encryption and security
  9. Bank will ensure the followings:-

    • Bank will ensure application and transport layer encryption wherever possible either.
    • Bank will establish proper rules in firewalls, intruder detection systems (IDS), data file and system integrity checking, surveillance and incident response procedures and containment procedures.
    • Bank will conduct risk management analysis, security vulnerability assessment of the application and network etc. once in a year.
    • Bank will maintain proper and full documentation of security practices, guidelines, methods and procedures used in mobile banking and payment systems and keep them up to date based on the periodic risk management, analysis and vulnerability assessment carried out.
  10. Bank will ensure that customer having mobile phones of any network operator is in a position to avail of the mobile banking service.
  11. Bank’s customers will be able to transfer funds from account in our bank to any other account in our bank or any other bank on a real time basis irrespective of the mobile network a customer has subscribed to. To ensure inter-operability between bank, and mobile banking service providers, banks will adopt message formats like ISO 8583, with suitable modification to address specific needs.
  12. Bank will set up a help desk and disclose the details of the help desk and escalation procedure for lodging the complaints, on bank’s websites. Such details will also be made available to the customer at the time of sign up.
  13. In case of Funds transfers the services shall be provided by the bank subject to the following conditions :
    • In case of cash out the maximum value of such transaction shall be Rs.10,000/- subject to a maximum of Rs.25,000/- per month per beneficiary.
    • Transaction involving purchase of Goods/Services will have a daily limit of Rs.1,00,000/-