A study by the Reserve Bank of India (RBI) on October 13, 2016 found that although the country's mobile banking penetration is among the highest in Asia, Indians are omni channel users in banking and still hugely dependent on ATMs and branches. This has prompted the central bank to propose that a remote ATM, with a bank employee for support, be treated as the equivalent of a branch to complement the self-service feature of mobile banking.
An RBI report has highlighted the findings of an Asia-Pacific banking consumer survey. The findings showed that among the respondents, the ones from India were most frequent users of mobile banking. Half the respondents used mobile banking at least once a week as against 26% in Malaysia and 44% in China. In absolute terms, monthly mobile banking transactions have grown 11-fold to 7 crore per month in three years.
But at the same time, Indians are heavy users of ATMs as well as branch banking. ATMs continue to dominate in terms of number of transactions. As against monthly 75 crore ATM transactions in July 2016, banks have reported 6.5 crore mobile banking transactions for the same month. This has prompted the RBI to look at widening the use of this network of 2.01 lakh cash machines.
Currently, no person other than a security guard is allowed to be posted at ATMs. Some banks have requested that banks be permitted at their discretion to post their staff or business correspondents at ATMs so that the kiosks can be well utilized for furthering their business and providing better customer service.
An RBI report has highlighted the findings of an Asia-Pacific banking consumer survey. The findings showed that among the respondents, the ones from India were most frequent users of mobile banking. Half the respondents used mobile banking at least once a week as against 26% in Malaysia and 44% in China. In absolute terms, monthly mobile banking transactions have grown 11-fold to 7 crore per month in three years.
But at the same time, Indians are heavy users of ATMs as well as branch banking. ATMs continue to dominate in terms of number of transactions. As against monthly 75 crore ATM transactions in July 2016, banks have reported 6.5 crore mobile banking transactions for the same month. This has prompted the RBI to look at widening the use of this network of 2.01 lakh cash machines.
Currently, no person other than a security guard is allowed to be posted at ATMs. Some banks have requested that banks be permitted at their discretion to post their staff or business correspondents at ATMs so that the kiosks can be well utilized for furthering their business and providing better customer service.
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