With the passage of time, there has been a big change in the functioning of banking. Banking, which started from rough ledgers, later reached the computer, its keyboard and mouse, and has now reached the pockets of customers through mobile phones. Earlier, cash was needed for making small purchases to large purchases or transactions. To get this cash, one had to first stand in the bank line and then go to the shop to buy the goods. In the midst of all this, people also used to worry about the security of cash.




But since the technology of internet banking and then mobile banking has been invented, people have got freedom from all the hassles in one stroke. Now people do not need to make rounds to the bank to make the biggest payment from buying any item. The bank is now in the hands of the people. People now have the facility of banking sitting at home round the clock and seven days a day. In simple words, you can now make purchases or payments or transactions from one rupee to one lakh rupees through your mobile in a single click, provided you are a mobile banking customer.

Mobile Banking Information:


Mobile banking has grown rapidly in India during the last two months. Due to increasing cash crunch in the era of demonetisation, people have adopted mobile banking or to say that digital payment as a better option. Then, even after being influenced by the 'Digital India' campaign of the current Prime Minister of India, Narendra Modi, people are increasingly attracted towards mobile banking and the country has moved towards 'cashless economy'. Impressed by the government's campaign, banks are also now working vigorously towards making the digital technology of banking easy and secure.

It would not be wrong to say that mobile banking is now becoming a part of everyday life in India. There are reasons for this too. This technology of banking not only facilitates cashless transactions, but many other facilities can also be availed from it. Also, mobile banking is considered more secure than internet banking and ATMs. But it cannot be denied that the number of people doing mobile banking in India is still very less.

The biggest reason for this is that a large population of the country does not have enough knowledge about this technology. Therefore, for your information, here we are going to tell you what mobile banking is, what software or apps are available for it, what are its advantages and disadvantages and what precautions you should take care of while using it. telling from.

What is mobile banking:

Mobile banking is the transaction of money through your mobile phone. Hard cash does not matter on this banking platform. It is concerned only with your bank account and with the bank account of those with whom you are transacting. Those transacting through this medium neither have to stand in the bank line nor do they need to carry huge cash in their pocket. To do mobile banking, all you need is a smartphone and it has internet facility.

However, there are also mobile banking software that run in ordinary mobile phones and internet connection is not mandatory for that. For Mobile Banking, you get a User ID from your bank and a Mobile PIN (MPIN). Many banks have made your fingerprint as MPIN to make mobile phone banking even more secure. Due to this the possibility of fraud remains negligible.

Mobile banking software:

Currently, in the era of digital revolution in India, there are many mobile banking software and many apps available. All these apps can be downloaded from Google Play Store or your bank's website.

USSD (Unstructured Supplementary Service Data) – This is the easiest and cheapest way of mobile banking. For this, you only need to have a mobile phone in which SIM should be installed. Smartphone is not mandatory for this. Also, it is not mandatory to have internet in the phone to take advantage of this facility. Through this platform of mobile banking, you can send money to any bank account, check your account balance and get the details of four to five back transactions (mini statement). For USSD specific information and usage, see Cashless Payment Methods.

UPI (Unified Payments Interface) – This system of mobile banking has been developed by the National Payments Corporation of India (NPCI). This is a mobile app through which the facility of making online payment is available. To use this system you need to have a smartphone with internet facility. Presently, about 21 banks are providing mobile banking facility to their customers through this system. You can avail the facility by downloading this app from your bank's website. For specific information about UPI (Unified Payments Interface) and how to use it, see How to do digital transactions through UPI?

Mobile Wallet – This is the newest technology to make payment from mobile. You must have understood from the wallet that it is a wallet in which money is kept and you can use it whenever you want. There are many digital wallet apps available at present. The famous paytm is only a mobile wallet and apart from this many banks have also launched mobile wallet in the market. In this, many major mobile wallets like SBI's Buddy, ICICI's Pockets, Citi Bank's MasterPass etc. are in vogue. The specialty of a digital wallet is that it is not linked to your bank account. Money has to be put in it first, that is, it has to be recharged. The more money you put into it, the more you can spend. Mobile wallet is the most suitable digital platform for small expenses and payments. How to use Paytm?

Make Mobile Banking Secure Banking:

The development of digital technology has made our everyday life as convenient as it is risky. The technology developed for digital financial transactions, internet banking or mobile banking gives us convenience, but even a small mistake in it does not delay us to be deceived. Breaking into digital technology is not a big deal today. The idea of ​​​​how insecure mobile banking is at present becomes clear from a survey by software security company Trend Micro. 

It has been said in the survey of this company that the virus named Malware which affects mobile banking, India ranks third among the countries infected with it. From this we can understand to what extent the mobile banking we have here is insecure. Still, in spite of our insecurities, if we take some precautions, then our mobile banking can be saved from danger..

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