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Mumbai, July 22 The Reserve Bank of India has advised banks not to offer mobile payment services until final guidelines for the same are issued.

“It is observed that a few banks have already started offering mobile payment services to their customers without waiting for the release of RBI’s guidelines. While RBI has no objection for use of mobile channel to provide basic services such as mobile alerts for credit or debit entry, balance enquiry etc. which are in the nature of providing information, due care needs to be taken for permitting the channel for customers to initiate payment instructions,” said an RBI notification.

The central bank has also asked banks to dissociate themselves from any mobile-based money transfer service that has not received explicit approval of RBI.

The RBI is, at present, in the process of finalising the operative guidelines for banks on mobile payments. In June, the apex bank had placed the draft guidelines in public domain.

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