Given this scenario, should banks not embrace this new technology at a more sustained pace and provide mobile banking services to their customers? Let me provide you with some facts and figures on this issue. RBI has so far authorised 52 banks for providing mobile banking services, out of which 44 banks have commenced offering these services.
Under this policy stance, the Bank will continue to pursue powerful monetary easing toward achieving the price stability target. In doing so, the Bank considers it important to take into account both the effects and side effects of monetary policy, including those on financial markets and the functioning of financial intermediation.