Mobile banking in India is slowly catching up as various service providers are tie-ing up different banks in order to provide banking services to their customers right on their finger tips. Reliance communications also announced the launch of it’s mobile banking services for its GSM subscribers.
This mobile banking service is in collaboration with the State Bank of India(SBI) which means as of now only those customers having an active banking account with State Bank of India will be able to use the mobile banking facility on Reliance. These facilities include account balance enquiry, mini statement, fund transfer, cheque book issuance, mobile recharge and bill payment at any time just by using a mobile phone.
The best part is customers are not required to download any specific application in order to access the banking services on their phones. However, users be required to register for the services with SBI, after which the services will be commenced by the bank. All users have to do is just dial *595# on their phone which will show simple menu choices on the screen and users are required to key in their choices.