And therefore, Mobile banking has the potential to emerge as a game changer in terms of costs, convenience, and speed of reach. Business models of banks, telecom operators and other stake holders need to converge. All the above would stand out as major game changers in the future.
PART III Recent initiatives taken by the Reserve Bank in the area related to technology I would like to draw your attention to the recent initiatives that have been taken up by the Reserve Bank in the areas relating to technology. IT vision for the Reserve Bank - 2011–17: The Reserve Bank has released its IT Vision document for 2011–17.