RBI Working on Mobile Payment Guidelines
by Mark Pickens: Wednesday, July 23, 2008
Yesterday, the Reserve Bank of India (RBI) cautioned banks which have started offering mobile payment services to put a hold on such services until final Operative Guidelines are issued by RBI.
A draft set of mobile banking Guidelines were issued for comment in June, but are still in development. RBI signaled several times in the prior year that it planned to look in earnest at mobile financial services.
CGAP’s Notes on Regulation of Branchless Banking in India took stock of the situation earlier this year.
July 25 UPDATE: RBI has announced it will issue final m-banking guidelines within 2 weeks.
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