:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

MOBILE BANKING FAILS TO TAKE OFF AS RBI, HOME MINISTRY OPPOSE MOVE

As per the news item appearing in The Economic Times, Reserve Bank of India (RBI) and Home Ministry strongly opposed the Government's idea of a cost-effective, convenient and efficient mobile based model of financial services that allows transfer of funds outside the banking system.
While RBI is concerned that regulating the system will be difficult and it would cause uncontrolled credit creation outside the Banking System, the Home Ministry is concerned about the misuse of the facility from a security consideration.
In October2008, RBI came out with operative guidelines for mobile banking.
Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Mobile-banking-fails-to-take-off-as-RBI-home-ministry-oppose-move/articleshow/5282674.cms

Posted by C.B.O.A., A.P.

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