SBI plans M-Banking roll out in July; BOI, UBI likely in June

mumbai, Jun 29 (PTI) With the Reserve Bank issuing draft
guidelines for mobile banking, at least three leading public
sector banks are getting ready to roll out full-banking
services via cell phones in the coming few weeks.
Country's largest lender State Bank India said it is in
the final stages of its M-Banking roll-out and has scheduled
its launch in middle of July, while Bank of India and Union
Bank of India plan to introduce their services by June-end.
SBI, which had earlier planned the launch for June, had
to reschedule it in order to get a suitable aggregator, a
senior bank official told PTI.
"We expect to launch our services in the second-half of
July. We are on the look out for an SMS-aggregator and would
short list a player soon. This would be primarily for
SMS-based transactions," the official said.
SBI is also understood to have plans to tie up with a
number of service providers to take the service to remote
corners of the country.
SBI plans to offer end-to-end banking services such as
account-to-account money transfer, utility bill payments and
account-related queries, amongst others.
Bank of India has also finalised its M-Banking plans and
is likely to announce the launch by June-end. The bank has
tied up with local technology services provider BillDesk, an
official said