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SOMAIYA COLLEGE OF ARTS AND COMMERCE VIDYAVIHAR, MUMBAI-400 077 PROJECT ON MOBILE BANKING
SUBMITTED In part fulfillment of the requirement for the Award of the degree of Bachelor of Commerce Banking and Insurance BY: MUKESH GUPTA ROLL NO: 16
CERTIFICATE
This is to certify that MR. MUKESH .B. GUPTA of B.COM BANKING
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CO-ORDINATOR (Dr. SMITA DAYAL) PRINCIPAL (Dr. Mrs. SUDHA VYAS)
INTERNAL EXAMINER
EXTERNAL EXAMINER
DECLARATION: I MUKESH GUPTA student of B.COM- BANKING AND INSURANCE SEMESTER -V (2011-2012) hereby declare that I have completed project on, MOBILE BANKING.
Wherever the data/information have been taken from any book or other sources the same have been mentioned in bibliography. The information submitted is true and original to the best of my knowledge. SIGNATURE OF STUDENT
ACKNOWLEDGEMENT
I have a great pleasure in presenting our project on MOBILE BANKING. I sincerely thank with deep sense of gratitude to Dr. SMITA DAYAL, our guide for her kind co-operation for the fulfillment of the project. I am highly indebted to our Principal Dr. Mrs. SUDHA VYAS & our Vice Principal Dr. MAYURESH MULE who took keen interest and allowed us to perform this project.
I would also like to thank our seniors, librarians who sincerely helped me getting this information and, last not the least our college for a big reason that we are here in front of you presenting this project. SIGNATURE OF STUDENT,
INDEX
SR NO 1. CONTENT INTRODUCTION TO BANKING i) MEANING ii) DEFINITION iii) HISTORY iv) CURRENT SITUATION OF BANKING IN 2. INDIA INTRODUCTION i) OBJECTIVES 3. 4. 5. ii) FEATURES CONSIDERATION WHEN IMPLEMENTING OF MOBILE BANKING. 11 12-13 14 15 16 17 BANKS. 18 20 21-22 23-25 26-28 29 30-31 32-38 39-45 9 10 PAGE NO 6-7 8
MOBILE BANKING MARKETING FOR MOBILE BANKING GUIDELINES AND CONSIDERATION ii) SECURITY ISSUE
i) REGISTRATION OF MOBILE BANKING 6. 7. 8. 9. 10. 11. 12. 13. SERVICES ADVANTAGES OF MOBILE BANKING LIST OF BANK PROVIDING MOBILE BANKING HOW WE CAN USE THE MOBILE BANKING VARIOUS METHOD OF USING MOBILE
BANKING QUESTION AND ANSWER OF THE FOLLOWING TERMS AND CONDITION GOVERNING MOBILE BANKING FACILITY RELIANCE INFOCOM , INDIA
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RECOMMENDATION BIBLIOGRAPHY
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1. BANKING
Banking has become a part and parcel of our day-to-day life. Today, banks offer an easy access to a common man. They carry out variety of functions apart from their main functions of accepting deposits and lending. Banking is a service industry. Banks provide financial services to the people, business and industries. Merchant banking, money transfer, credit cards, ATMs are some of the important financial services provided by the modern banks. Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India's banking system has several outstanding achievements to its credit. The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reasons of India's growth process. Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money. Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dials a pizza. Money has become the order of the day.
The name Bank derives from the Italian word Banco "desk/bench", used during the Renaissance by Florentines bankers, who used to make their transactions above a desk covered by a green tablecloth. However, there are traces of banking activity even in ancient times. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a banco, from which the words banco and bank are derived. As a moneychanger, the merchant at the banco did not so much invest money as merely convert the foreign currency into the only legal tender in Rome- that of the Imperial Mint.
MEANING OF BANKING
A Bank is a financial institution which accepts deposits from the public and lends the funds to the people or institution that need funds. It is like reservoir. It collects the savings of some people and gives this money to others who use them productively. In the process, the bank earns interest out of which it pays interest to the depositors.
DEFINITION OF BANKING
In India BANKING has been defined by a statute, viz., the Banking Regulation Act, 1949 (vide Section 5 b, c) as follows: Accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, and order or otherwise (section 5 b) A banking company is a company which transacts the business of banking in India (section 5 c)
HISTORY OF BANKING
Banking in India originated in the first decade of 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, both of which are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the "The Bank of Bengal" in Calcutta in June 1806. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras. The presidency banks were established under charters from the British East India Company. They merged in 1925 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India. For many years the Presidency banks acted as quasi-central banks, as did their successors. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After India's independence in 1947, the Reserve Bank was nationalized and given broader powers.
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The number of people using mobile banking services has increased. While the trend is growing, lack of awareness of services, apart from perceived security issues are inhibiting faster takeoff. Data Quest. It was clear at the start itself that this would be a battle focused not on technology, but on the mindset of the target audience. Over two years after the launch of mobile banking services in the country, that bridge has been reached and many are beginning to walk those cautious steps across it. Yes, the usage of mobile banking services is increasing, and fast against data quests estimated user base of under 10,000 for mobile banking services in 2000, there are over 120,000 today who SMS from their banking. Even our survey despite targeting a respondent profile that would bring in more positive answers than negative (see methodology), threw up very low usage numbers. Also, e-commerce as a medium of purchasing and transacting has not really caught on, and the basket of mobile banking offerings is, in itself, very limited. The good news the technology backbone is in place, and getting better. Theres CDMA, theres GSM. Forget their battles on the mobile telephony front from the consumers point of view; he never had it so good. The recent price cuts are also likely to help, say banking experts, adding that this will lead to increasing willingness to move on to mobile, and therefore, to the value-added services that most operators offer today The Internet is revolutionizing the way the financial industry conducts business, empowering organization with new business model and new ways to interact with customers. The ability to perform banking transactions online banks and brokers who offer personalized services through their web portals. This increased competition is driving traditional financial institutions to find new ways to add value to their product and services, gain competitive advantage and increase customer loyalty while also attracting new, high-value client.
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OBJECTIVES
Mobile and wireless technology, combined with the wide variety of portable devices available today, enable new revenue opportunities for financial services organizations. This provides a new channel that can be used to refresh and expand the customer base, attract prime customers and enhance loyalty. With mobile and wireless technology, banks can offer a wide possibility of services to their customers, from the freedom of paying bills while stuck in traffic, to receiving notification of a change in stock price while having lunch, the challenge, then is how to turn these possibilities into a reality for the customers.
Table BENEFITS
markets
DESCRIPTION
mobile mass market will allow attracting new, high-value customers into mobile banking portal and expanding the reach to global markets. customer The convenience of having personalized wireless access to critical financial information is an invaluable service for customers on the move enabling the execution of time-sensitive financial transaction anywhere, anytime, provides the opportunity to strengthen the relationships with existing customers. This ultimately results in an increased share of the customers transactions preventing them from taking a portion of their financial business elsewhere. of Granting customer flexible access to financial information and accounts enables them to perform transaction and accounts enable them to perform transaction when its most convenient for them. As a result, they have the opportunity to conduct transactions more frequently, driving increased revenue from fees.
Grow new customer base and Developing wireless application and services targeted at the
Increase wallet
share
of
Grow
assets,
number
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FEATURES
Mobile Customers: - those who use mobile telephony use mobile banking
service. Mobile telephony is used through mobile phones. M Commerce: - mobile banking is a part of m Commerce whereby business
and trade takes place through mobile on-line. Those mobile users who became on line internet users do M Commerce. Technology based: - Mobile banking are based on technology of development.
Mobile banking makes use of internet for transmission, transaction & delivery of banking services. The network provide the required software support. Services: -Mobile banking offers the entire internet-based banking services such
as on-line account opening, account verification, funds transfer etc. Eligibility: - At present, mobile banking is extended only to individual customer
having account with any branch of a particular bank that offers internet banking facility. Further, it is also required that the customer is registered as on internet banking customer. Application: - In order to avail the facility of mobile banking, an application duly
filled is to be submitted to the bank. The application is invariably made available in the official website of the bank.
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devices.
Integration with other servers and back end services must be easy to implement. The advantages of using standard protocol are attainable mainly through open
system.
For smaller financial institution, like credit unions, the outsourcing of the wireless services can solve most of the impediments they would face. Besides the lack of resources and expertise, other reasons for outsourcing are: Financial institution will not divert from it core business. Improve the time to implement the services. Cost and budget can be predicated with more accuracy. Wireless services will use the latest in technology.
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Using mobile banking facility you can: Check your balance Check on your last three transaction Request for a statement Request for a cheque book Enquire on a cheque status Instruct stop cheque payment. View fixed deposit detail...And much more. You can also pay your utility bills using the bill pay facility all you to do is instruct us to pay your bills and the amount rates instantly deducted online from our account.
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Essential Requirement
Service is available only to an existing customer of the branch availing
internet banking services. Registration for internet banking and mobile banking services. Available for the individual customer. Need for owning a mobile phone; if WAP (wireless application protocol).
Banking is to be availed; the mobile phone should be WAP enabled whose browser is capable of sending referrer URL.
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SECURITY ISSUE
The security for the use of mobile banking is ensured by the use of password. Password is nothing but the secret code of identification of a uses. The customer user is given a login ID and a password on the registration for internet banking. The login ID and the password need to be changed by the internet banking registration. In the case of WAP banking, one should use the same user login ID and transaction password with which access to the internet banking service is made. However, your user ID needs to be enabled by the bank for WAP banking on the basis of the application submitted for the same. This is essential for availing the WAP banking. In the case of SMS Banking, the bank will first enable the user ID for SMS facility on the basis of the Application for the same. Only then the customer can access the domain of the banking company. Accessing SMS banking through internet login password is not allowed. A customer can access SMS banking only through SMS password. Which is exclusive however, with internet login password, one can access the domain of the banking company through internet banking or WAP banking using the WAP enable mobile phone. For the first time, one can choose the SMS password only in the relevant domain of the bank by accessing through internet. Subsequently SMS password can be changed through an SMS on the mobile phone also. However; it is not possible to change the WAP Password separately. Change of WAP password happens automatically with the change in internet login password. Registration is required for mobile banking when the cell. Number is changed from the one already registered. Before the change of the cell number, it is possible for the customer to withdraw from SMS Banking, using the necessary option. The customer need to take up with the bank, after getting the new cell number, duly informing the internet banking ID and the new cell number. Bank will accordingly register the new cell number. Currently, there is not a security standard; companies have implemented many solutions even thought the trend is to use smart cards as the utmost security technology. The solutions currently implemented are the following:
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Limit in the type of transaction in order to reduce the risk of the cardholder.
For example, funds transfer to third parties. Secure network architecture. The more common security used is PKI (public
key infrastructure) an encryption used for PDAs and smart phones, PKI consist of two keys, a public key and a private key, used to authenticated the user and encrypt the data. Smart cards as a digital identification and mobile phone (card reader are the
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6. SERVICES
The services that mobile banking can offer are the following: Account balance enquiry. Account statement enquiry. Cheque status enquiry. Cheque book requests. Fund transfer between accounts. Credit/debit alert. Minimum balance alerts. Bill payment alerts. Recent transaction history request. Information request like internet rates exchange rates. One way to classify this service depending on the originator of a service session is the push/pull nature. Push is when the bank sends out information based upon an agreed set of rules, for example your banks send out an alert when your account balance goes below a thousand level. pull when the customer explicitly request a service or information from the bank so a request for your last five transaction statement is a pull based offering. The other way to categorize the mobile banking services by the nature of the service, gives us two kind of services:- Transaction based on enquiry based so a request for your 23
bank statement is an enquiry based service and a request for your funds transfer to some other account is a transaction based services transaction based services are also differentiated from enquiry based services in the sense that they require additional security across the channel from the mobile phone to the banks date servers. Based upon the above classifications are arrive at the following services listed below:Table:-2 Classification of services Push Based Transaction Based Pull based o Fund Transfer o Bill Payment o Other Financial Services like share o Credit / Debit Alerts Enqui Expiry Based o Minimum Balance Alerts o Bill payment alerts trading o Account Balance enquiry o Account statement enquiry o Cheque Status enquiry o Cheque book request o Recent transaction history
DEVICES
Mobile phone and palm pilot are the most important wireless devices. Even though, there is solution for both type of devices and some banks use both mechanisms to deliver their service, mobile phone has more potentially due to its rate of penetration especially countries. The following table presents the technology and advantages and disadvantages of both:
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Table:- Technology Device Technology Advantages/Disadvantages o Mobile phone is a more effective way to reach the unbanked masses, especially in emerging markets. o Screen and keyboard will limit functionality. SMS o SMS is a low-cost mechanism for non-voice communication. Especially important in countries Mobile phone Where communication is still expensive. o Pricing is per message send it. o Texts are not much user-friendly. o It is more friendly due to its web enabled capacity. WAP o It will be expensive for customer (pricing per minute).
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computer telephone.
Do your banking in a secure, discreet and convenient environment. Easy to use software and interface, with full customer support. To protect your privacy, the information transmitted between your palm handheld Access your banking information using your own secret password.
Mobile banking with palm handhelds is safe, reliable and secure. All data between the palm device and royal bank is encrypted, meaning that it is scrambled into an unreadable format during transmission, preventing the risk of the data being intercepted by a third party. This is the same state of the art technology used in online banking. No one can view your information; in fact, no data is ever permanently stored on your palm device, so if you lend it, no one will be able to find any of your personal information. These features also help ensure the security of mobile banking with palm handhelds: If for some reason your palm handheld shuts itself off with your banking Online banking will time-out if there is no activity from the palm handheld. You You can lock your palm handheld, so that only your own secret password can be
information displayed, the application will reset to the sign-on screen. will then need to sign on again with your password. used to unlock it every time it is used.
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8. LIST OF BANK PROVIDING MOBILE BANKING ICICI BANK HDFC BANK PUNJAB NATIONAL BANK BANK OF BARODA UNIT TRUST OF INDIA DENA BANK KOTAK MAHINDRA BANK DEVELOPMENT CREDIT BANK STATE BANK OF INDIA HSBC BANK YES BANK
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Mobile banking works through a set of text messages. All you need to do is to type in the specified code for the transaction as a text message and send it to a pre designated number. You will receive the response in the form of a text message on your mobile phone screen within a few seconds.
If you are an account holder of any bank as well as a subscriber of any of the mobile phone service providers tied up with HDFC Bank, you can take advantage of this facility.
If you are opening an account with the bank, you can apply for mobile banking through the account opening document. If you already have an account with the bank, you can apply for mobile banking through the combined direct banking channels application form.
Mobile banking is extremely easy. Just punch in a few letter and routine banking transactions will be complete. How does mobile banking works? Mobile banking works through a series of text message (SMS) 30
Once you have activated this service, all you need to do is type in the You will receive the response in the form of text message on your mobile
specified code for the service you want to avail. phone screen within a few seconds.
Does mobile banking with palm work everywhere? It will work in major urban center and surrounding areas. For specific areas of
coverage, please consult your wireless carrier. Most wireless carriers publish maps of their areas on their web sites.
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REQUEST FACILITY:
ICICI BANK mobile banking requests enable to query for account information or perform bank transactions. You can query for your account balance, request for the last 3 transactions. Order for new cheque book, inquire for a cheque status, issue a stop cheque request, change of primary account and make payment for your bill under this facility. If you hold an ICICI BANK HPCL Debit Card, you can also query your debit card reward points by just sending a SMS request.
ALERT FACILITY:
Under ICICI BANK mobile banking alert, you get alerted when the events you have subscribed for get triggered. You can subscribed for receiving SMS alert when your salary gets credited, when your bank account is debited / credited with Rs.5000/- or more as specified by you, your balance falls below / goes above a specified limit or when a cheque bounces. Under the alert facility, you will get alert only when the events you have subscribed for information as and when you desire.
REQUEST FACILITY
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ALERT FACILITY
The request facility enables you to check your credit card balance, fetch reward points
for redemption, view details of last payment, and get payment due date. On subscription to credit card alerts, you get alerted when the events you have subscribed for get triggered. You can subscribe for receiving SMS alerts for due date reminders, and when you are approaching your credit limit. Under the alert facility, you will get alerts only when the events you have subscribed for gets triggered unlike the request facility where you can request for information as and when desired.
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Banking requests that can be made Balance: To see the balance, select the account (primary or non primary). In case of
non- primary, provide the last 6 digits of the account number. Last 3 Transactions: To see the last three transactions, select the Account (primary
or non-primary). In case of non-primary, provide the last 6 digit of the account number. Cheque status: To check the status, select the account (primary non-primary), and
then provide the cheque number. In case of non-primary, provide the last 6 digits of the account number. Stop cheque: To stop the cheque, select the account (primary or non-primary), and
then provide the cheque number. In case of non-primary, provide the last 6 digits of the account number. Cheque book request: To request a cheque book, select the account (primary or
non-primary). In case of non-primary, provide the last 6 digits of the account number. Change primary account: To change the primary account number, you have to
provide the account number, which has to be made the account. View bill: Selecting this option and entering the biller name will display the
presented bills only of that presentment mode biller. Clicking on OK without entering name will display all presented bills. Pay present bill: To pay the bill presented, first the account to be debited has to be
selected. Biller name has to be entered. The bill will be paid instantly. Pay payment bill: (Pay bill of payment mode biller) - Biller name, last six digits of
the account number and the amount (without paisa) have to be entered to pay a bill of a payment mode biller. The bill will be paid instantly. 34
Find ATM / Find branch: Pin code of the desired area has to be entered to get the
nearest ATM / Branch. for eg :- if you wish to find an ICICI Bank ATM in Andheri, Mumbai, you would have to select Find ATM& enter the pin code of Andheri.(E) 400058 Get quote: You have to provide the ICICI direct stock code to get the details. (This
facility is available to customer who has registered for this facility with ICICI direct.) About : This option gives you the basic information about the service as under To register contact ICICI Bank or visit www.icicibank.com To make query select option from the menu and click request.
ICICI BANK Partners with reliance India mobile to launch mobile banking service ICICI Bank, Indias second largest bank, in association with reliance info com, Indias largest mobile service provider, today launched a truly interactive mobile banking service in India. July 14, 2004, Mumbai ICICI Bank customers through their reliance mobile handsets can now avail of a gamut of banking services free of charge. The services can be accessed directly from R World on the handset. A customer can view their ICICI Bank account balance, get mini statement and make requests for cheque books. Apart from viewing presented bills, a customer can also pay bills by direct debit to the bank account. The service also enables a customer to locate an ATM or bank branch. On selecting any of these, the customer is connected directly to the bank and the result is displayed instantly on the handset. To avail the mobile banking service, a customer can register at any of the ICICI Bank branches, dial the call center or through internet banking. With alliance ICICI Bank leveraged technology to synergies the benefits of a mobile phone with ICICI Banking services. This will improved the customer with a convenient anytime-anywhere banking environment R-Worlds menu driven process offers the convenience of banking, while being on the move. The highly advanced and intuitive user- interface features of the R-World, available to the more than 7 million RIM users,
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makes mobile banking practical and user-friendly. R-World ensures the subscriber receives answer to request immediately within the same session. The java-based R-World suite of reliance India mobile internet application unique in India and the world. Around 7 million subscribers all over India currently use R-World., which offers a range of innovation services on reliance India mobile that helps its customer to access information, communication, entertainment, and transaction based application on the move.
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Indian mobile provider partners with bank to offer services INDIA Are mobile phones a competitor or a complement to ATMs? Maybe a little both, judging from a news release from mobile phone provider reliance info com limited. According to the release, ICICI Bank, in a partnership with reliance, on July 21 launched an interactive mobile banking service in India. Using their reliance India mobile handsets, ICICI Bank customers can access several banking services; including viewing their account balance, getting mini statements and making request for check books. Customers can also view presented bills and make payments via a direct debit to their bank accounts. There is no charge for the services. However, the service also enables a customer to locate an ATM or bank branch. With this option, the customer is connected directly to the bank and the result is displayed instantly on the handset. However, the service also enables a customer to locate an ATM or bank branch. With this option, the customer is connected directly to the bank and the result is displayed instantly on the handset. Customer can sign up for the service at any ICICI Bank branch, or through the call center or the internet. With this alliance, we have leveraged technology to synergize the benefits of a mobile phone with our banking services, which will provide the customer with a convenient anytime anywhere banking environment. Reliance India mobiles internet applications, including the new ICICI services, are built upon proprietary java based R-world suite. According to the release, 7 million subscribers across India use R-world to access information, communication, entertainment and transaction based application.
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What is ICICI mobile banking? Why should I apply for same? ICICI mobile banking keeps you informed about the significant transactions in your
bank, credit card and demat accounts promptly such as: Bank Alerts salary credit, debit / credit of large amounts as specified by you and cheque bounce. Credit Card Alerts Approaching credit limit and due date of payment of credit card bill. Demat Alerts shares debited and credited in your account etc. ICICI Bank mobile banking facility keeps you updated while you are on the move. What are ICICI mobile banking alerts? ICICI bank mobile banking alerts is a facility through which you can receive latest
information about your bank. Credit Card and Accounts. Alerts are sent to your mobile phone number as registered by you with the bank.
Can I avail of the ICICI mobile banking facility? All ICICI Bank customers having savings bank account, credit card (not being an add
on card) and demat account can avail of this facility. As and when alerts are introduced for other ICICI Bank products, we shall intimate you through our website. What are the alerts that I can subscribe for?
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1. 2. 3. 4. 5.
Currently, we are providing the following alerts based on your account(s) with us: Banking Alerts Credit to your bank account of any amount of rs.5000/- or above as specified by you. Debit to your bank account of any amount of rs.5000/- or above as specified by you. Salary credit to the bank account. Cheque deposited in your bank account but bounced. Account balance below a specified amount.
This will be subject to the appearance of the word salary in the narration of salary credit. Credit Card Alerts Payment due date reminder on your next credit card bill. Your credit card spending reaches the limited set for your credit card (approaching credit limit).
1. 2.
1. 2. 3. 4.
Demat Alerts Demat account getting credited. Demat account getting debited. Pledge creation and closure. Rejection of instruction submitted.
In future, we would be introducing more alerts, for which we shall intimate you through our website, How often will I receive the alerts? Depending on the type of alerts selected, you will receive the alert(s)
As and when the particular event happens. However, in case of approaching credit limit, the alert is sent at the end of the day.
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How can I subscribe to ICICI bank mobile banking? You can subscribe to ICICI Bank mobile banking by any one of the following means:
Login to www.icicibank.com and go to banking section for banking alerts and credit card section for credit card alerts. Call up our 24 hours customer care centre and request for subscription for bank alerts, credit card alerts and demat alerts. Our customer care centre representatives will take you through the identification process and subscribe you to ICICI Bank mobile banking.
Are there any other prerequisites for availing ICICI Bank mobile banking
facility? For mobile alerts, you also need to have a mobile phone with a connection on which
these SMS alerts can be sent to you. In case your mobile phone service provider does not support SMS facility, this facility may not be available for you. Kindly contact your mobile phone service provider to enable SMS facility Do I need a special phone for mobile alerts? No, all you require is a normal GSM/CDMA mobile phone to receive mobile alerts.
Kindly note that the CDMA mobile phone service provider should have activated SMS facility for you to avail this facility. How will I know that I have received an ICICI Bank mobile banking alerts? Mobile alerts would be received on your mobile phone. The message alert tone set by
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Can I access the alerts when I am abroad? You need to ensure that you have subscribed for international roaming facility for
your mobile phone connection and you have switched your mobile phone on.
What should I do in case I change my mobile phone number? For banking alerts and credit card alerts you may simply login to www.icicibank.com
or contact our 24 hour customer care centre for banking alerts, credit cards alerts and demat alerts to update our records. Are there any charges for the facility? Mobile banking is now a non chargeable service. updates of the fees would be put up on our website
All
www.icicibank.com/pfuser/channels/mobile.htm for reference. ICICI Bank reserves the right to change the charge for this facility. What should I do if I have further queries on this facility? For any further queries on ICICI Bank alert facility, you may call our 24 hour
customer care centre or write to the account manager for clarification of the same. To write to the account manager, login to www.icicibank.com, go to the banking section for the option write to account manager. You may also write to account manager at customer.care@icicibank.com. Briefly describe ICICI Bank application. Application name is ICICI Bank. This application is a mobile banking application.
User can perform various function like balance inquiry, last three transactions etc. using RIM 42
phone. In mobile banking, banking transaction is presented as text on customer mobile phone screen as opposed to hearing a message through the phone. Whom is it targeted for? It is designed to meet the needs of mobile users who want the ease and convenience of
anywhere, anytime access to their ICICI Bank account using RIM phone.
What are the benefits for this application? Customer is not required to go the bank/ATM for doing the transaction that can be
done using this application. This transaction can be carried out on 24x7 bases. How does a user use various features in this application? (please describe your
application usage in detail) User has to launch the application through R World. User has to accept the disclaimer
and then he is shown the list as given below: Balance inquiry User can view his balance using this option. Last three transactions User can select this option to view the last three transactions. Cheque status inquiry User can view the status of cheque issued by him/her. Stop cheque request User can use this option to stop payment of a cheque issued by him/her Change of primary account User can use this option to change the primary account. Primary account is the main account of the user on which he wishes to carry out mobile banking transactions. 43
Cheque book request User uses this option for requesting for a cheque book. Only one such request will be accepted at a time. Subsequent request can be accepted only when previews request have been fulfilled. Latest stock quotes User uses this option for requesting latest stock quotes. What happens if someone calls me when I am accessing application name User can attend to call. After the call is completed user can start using the application
from the same point. Can I SMS Particular data from my handset while using ICICI Bank No, presently this facility is not available in this application. Can I Save Particular data from my handset while using ICIC Bank Yes the data pertaining to the last option gets saved on the handset. This data can be
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Can I print particular information from my handset using application name No Is there a password? No, you do not require a password.
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Bank, or
Bank, or
Any person, in which ICICI Bank has a direct or beneficial interest or control
in more than 26% of the voting securities of such person for the purpose of this definition of affiliate and terms and condition, control together with grammatical variation when used with respect to any person, means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of the vote carrying securities, by contract or otherwise howsoever; and person means a company, corporation, a partnership, trust or any other entity or organization or other body whatsoever. Customer mean a customer of ICICI Bank or of an affiliate or any person who has applied for any product/service of ICICI Bank. ICICI BANK mean ICICI Bank limited, a company incorporated under the companies act 1956 and licensed as a bank under banking regulation act, 1949 having its registered office at landmark, race course
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Circle, Vadodara 390 007 and corporate office at ICICI Bank towers, Bandra-KurlaComplex, Mumbai- 400 051. Facility mean mobile banking facility (which provides the Customers, services such as information relating to account(s), details about transactions and such other services as may be provided on the mobile phone number by ICICI Bank or otherwise for the purpose of availing the facility. Mobile Phone Number means the number specified by the customer on the website, through the call centre or in writing either through any form provided by ICICI Bank or otherwise for the purpose of availing the facility. Personal Information means the information about the customer obtained in connection with the facility. Website refers to www.icicibank.com or any other website as may be notified by ICICI bank from time to time.
In this document all reference to Customer in masculine gender shall be deemed to include the feminine gender.
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APPLICATION
The Customer shall apply to ICICI Bank for use of the Facility (and/or for any changes to the option available under the Facility) by use of ICICI Bank phone banking or ICICI Bank internet banking services or by any other method as provided by ICICI Bank from time to time including application through forms as prescribed by ICICI Bank from time to time for use of the Facility. Application for the Facility made by use of ICICI Bank phone banking or ICICI Bank internet banking services shall be accepted only after authentication of the Customers through any mode of verification as may be discretion of ICICI Bank. The Facility shall be activated after a minimum of 2 working days from the date of receipt of the application on the Website or at the call centre. In case of application submitted on the printed format as may be prescribed by ICICI Bank, the Facility shall be activated after a minimum of 7 working days from the date of receipt of the application at operation cell, Mumbai.
ELIGIBLE CUSTOMERS
The customers desirous of using the Facility should be either a sole Account holder or authorized to act independently. In case of joint account, the written mandate of other account holders authorizing the Customers to use the Facility would be required. All or any transaction arising from the use of the Facility in the joint account shall be binding on all the joint account holders, jointly and severally. An Account in the name of the minor, in which a minor is a joint account holder or any account where the mode of operation is joint, is not eligible for Facility.
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ICICI Bank shall endeavor to the Customer through the facility, such services as ICICI Bank may decide from time to time. ICICI Bank reserves the right to decide what services may be offered to a Customer on each Account and such offers may differ from Customer to customer. ICICI Bank May also make addition / deletion to the services offered through the Facility at its sole discretion. Only those Account opened with the Affiliates of ICICI Bank and attached to the respective Customers ID will be accessible through the Facility. The Facility is made available to the request, at the sole discretion of ICICI Bank and may be discontinued by ICICI Bank at any time, without notice. ICICI Bank reserves the right to offer the Facility for those Customers who are availing the services of specific cellular services providers only. The Facility is currently to only to the Customers holding Accounts with ICICI Banks branches in India. ICICI Bank shall have the discretion to offer the facility to Non Resident Indians subject to application laws. The access of the Customers to the Facility shall be restricted to Customer availing the Facility through the Mobile Phone Number. The instruction of the customer by means of the Customer shall be effected only after authentication of the Customer by means of verification of the Mobile Phone Numbers and/or through verification of TPIN/password allotted ICICI Bank to the Customer or through any other mode of verification as may be stipulated at the discretion of ICICI Bank. ICICI Bank shall endeavor to carry out the instruction promptly provided that ICICI Bank shall not be responsible for the delay in carrying out the instructions due to any reason whatsoever including failure of operational system or due to any requirement of law.
RECORDS
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All records of ICICI Bank generates by the transaction arising out of use of the Facility, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions. The authority to record the transaction details is hereby expressly granted by the customers to ICICI Bank.
INSTRUCTIONS
All instruction for availing the services under the Facility shall be provided through the Mobile Phone Number in the manner indicated by ICICI Bank. The Customers is also responsible for the accuracy and authenticity of the instruction provided to ICICI Bank and the same shall be considered to be sufficient for availing of the services under the Facility. Where ICICI Bank considers the instruction to be inconsistent or contradictory it may seek clarification from the Customers before acting on any instruction of the Customers or act upon any such instruction as it may deem fit. The Customers and ICICI Bank shall have the right to suspend the services under the Facility if ICICI Bank has reason to believe that the Customers instruction may lead to direct or indirect loss or may require an indemnity from the Customers before continuing to operate the Facility. The Customers accepts that all information / instruction will be transmitted to and / or stored at various locations and be accessed by personal of ICICI Bank (and its Affiliates). ICICI Bank is authorized to provide any information or details relating to the Customers or to third party to Facilitate The providing of the Facility and so far as is necessary to give effect to any instructions. Accuracy of Information the Customers undertakes to provide accurate information wherever required and shall be responsible for the correctness of information provided by him to ICICI Bank at all times including for the purposes of availing of the facility. ICICI Bank shall not be liable for consequences arising out of erroneous information supplied by the Customer. If the Customer suspects that there is an error in the information supplied by Bank to him, he shall advise ICICI Bank as soon as possible on a best effort basis.
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While ICICI Bank and its Affiliates will take all reasonable steps to ensure the accuracy of the information supplied to the Customer, ICICI Bank and its Affiliates shall not be liable for any inadvertent error, which results in the providing of inaccurate information. The Customer shall hold ICICI Bank harmless against any loss, damages etc. that may incurred / suffered by the customer if the information supplied to the Customer turns out be inaccurate / incorrect.
DISCLAIMER OF LIABILITY
ICICI Bank shall not be responsible for any failure on the part of the Customer to utilize the Facility due to the Customer not being within the geographical range within which the Facility is offered; If the Customer has reason to believe that his mobile phone number is / has been allotted to another person and / or there has been an unauthorized transaction in his account ICICI and / or his mobile phone is lost, he shall immediately inform ICICI Bank under acknowledgment about the same. The Customer agrees that ICICI Bank shall not be liable if (a) (b) The Customer has breached any of the terms and condition herein or The Customer has contributed to or the loss is a result of failure on part of the
Customer to advise ICICI Bank within a reasonable time about unauthorized access of or erroneous transaction in the Account; or (c) As a result of failure on part of the customer to advise ICICI Bank of a change in or termination of the Customers Mobile Phone numbers. The customer agrees that the access of the Facility shall be only through the Mobile Phone Number and the Customer or not, shall be deemed to have originated from the customer. Under no Circumstance, ICICI Bank shall be held liable if the Facility is not available for reasons including but not limited to natural calamities, legal restraints, faults in the telecomm nation network or natural failure, or any other reason beyond the control of ICICI Bank.ICICI Bank shall not be liable under any circumstance for any damages whatsoever Whether such damages are direct , indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and Whether sustained by the Customer or by any other person. Illegal or improper use of the Facility shall render the Customer liable for 51
payment of financial charges as decided by ICICI Bank or will result in suspension of the Facility to the Customer.ICICI Bank is in no way liable for any error or omission in the services provided by any cellular or any third party services provider (whether appointed by ICICI Bank in that behalf or otherwise) to the Customer, Which may affect the Facility. ICICI Bank does not warrant the confidentiality or security of the messages whether personal or otherwise transmitted through the facility. ICICI Bank makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and however suffered or incurred by the Customer or by any person resulting from or in connection with the Facility Without limitation to the other provision of this terms and condition, ICICI Bank, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising of ICICI Bank in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the customer and the network of any cellular service provider and ICICI Banks system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the Customer, ICICI Banks system or the network of any cellular services as is necessary to provided in this terms and conditions, for any dispute between the customer and a cellular services provider or third party services provider(whether appointed by ICICI Bank in that behalf or otherwise). The Customer agrees that ICICI Bank and / or its Affiliates may hold and process his personal information concerning his Accounts on computer or otherwise in connection with the Facility as well as for analysis, credit scoring and marketing. The Customer also agrees ICICI Bank may disclose, in strict confidence, to other institution, such information as may be reasonably necessary for reasons inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive, for credit rating by recognized credit rating by recognized credit scoring agencies, and for directive, for credit rating by recognized credit scoring agencies, and for fraud prevention.
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The Customer shall not interfere with or misuse in any manner whatsoever the facility and in the event of any damages to ICICI Bank for the use of the Facility. ICICI BANK will not be liable for: (a) Any unauthorized use of the Customers TPIN, icicibank.com password or
mobile phone or for fraudulent, duplicate or erroneous instruction given by use of the Customers TPIN,icicibank.com password or mobile phone number; (b) (c) instructions (d) (e) (f) Loss of any information/instructions in transmission; Unauthorized access by any other person to any information / instructions ICICI BANK will not be concerned with any dispute between the customer Acting in good faith on any instructions received by ICICI BANK; Error, default, delay or inability of ICICI BANK to act on all or any of the
given by the Customer or breach of confidentiality; and any cellular services provided and / or any third party providing by ICICI BANK. ICICI BANK makes no representative or gives no warranty with respect to the quality of the service provided by any cellular service provider. ICICI BANK shall not be liable for the oversight on part of the Customer to update himself with the addition of services which have been included in the facility and specific services for each product as may be provided on the website of ICICI BANK and as will be available with the authorized call centers of ICICI BANK.
INDEMNITY
In consideration of ICICI BANK providing the Facility, the customer agree to indemnify and keep safe, harmless and indemnified ICICI BANK from and against all action, claims, demands, proceedings, loss, damages, costs, charges and expenses whatsoever ICICI BANK may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instruction given by use of the facility.
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The Customer hold ICICI BANK/ its Affiliates harmless against any loss incurred by the Customer due to failure to provide the services offered under the Facility or any delay in providing the services due to any failure or discrepancy in the network of the cellular service provider. The Customer agrees to indemnify and hold ICICI BANK harmless for any losses occurring as a result of the: i. ii. The customer permitting any third parties to use the Facility. The Customer permitting any other person to have access to his mobile phone or a consequence of leaving the mobile phone unattended or loss of mobile phone.
FEES
ICICI BANK shall have the discretion to charge such fees as it may deem fit from time to time and may at its sole discretion, revise the fees for use of any or all of the Facility, by notice to the customers. The Customer may at any time discontinue or unsubscribe to the said facility. The Customer shall be liable for payment of such airtime or other charges which may be levied by any cellular service provider in connection with availing of the Facility and ICICI BANK is in no way concerned with the same. The charges payable by the Customer is exclusive of the amount payable to any cellular service provider and would be debited from the account of the Customer on a monthly basis. The Customer shall be required to refer to the schedule of fees put up on the Website from time to time.
MODIFICATION
ICICI BANK has the absolute discretion to amend or supplement any of the terms and conditions at any time and will endeavor to give prior notice of fifteen days by email or by displaying on the Website depending upon the discretion of ICICI BANK, whichever feasible, and such amended terms and condition will thereupon apply to and be binding on the Customer.
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TERMINATION
The Customer may request for termination of the Facility any time by giving a written notice of at least 15 days to ICICI BANK. He Customer will remain responsible for any transaction made through his mobile phone number through the facility prior to the of such cancellation of facility ICICI BANK may, at its discretion, withdraw temporarily or terminate the facility, either wholly or in part, at any time without giving prior notice to the Customer. ICICI BANK may, without prior notice, suspend the facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for Security reasons, which require the suspension of the Facility.ICICI BANK, shall endeavor to give a reasonable notice for withdrawal or termination of the Facility. The closure of all Account of the Customer will automatically terminate the facility.ICICI BANK may suspend or terminate facility without prior notice if the Customer has breached these terms and conditions or ICICI BANK learns of the death, bankruptcy or lack of legal capacity of the customer.
NOTICES
ICICI BANK and the customer may give notice under these terms and condition electronically to the mailbox of the Customer (which will be regarded as being in writing) or in writing by delivering them by hand or sending them by post to the last address given by the Customer and in to ICICI BANK at its office at 3rd floor, south tower, ICICI BANK towers, Bandra-Kurla-Complex, Mumbai 400 051. In addition, ICICI bank shall also provide notice of general nature regarding the facility and terms and conditions, which are application to all customers of the Facility, on its website and/ or also by means the customized messages sent to the Customer over his mobile phone as short messaging service (SMS).such notice will be deemed to have been served individually to each Customer.
GOVERNING LAW
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Any dispute or differences arising out of or in connection with the facility shall be subject to the exclusive jurisdiction of the courts of Mumbai. ICICI BANK accepts no liability whatsoever, direct or indirect for non compliance with the laws of any country other than that of India. The mere fact that the Facility can be accessed by a Customer in a country other than India does not imply that the laws of the said country govern these terms and condition and / or the operation in the accounts of the Customer and / or the use of the facility.
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Triggers: means the customized trigger that are required to be set by the Customer with ICICI bank which shall enable ICICI Bank to send the Alerts relating to Account.
APPLICABILITY
All primary savings account holders demat account holder and primary credit card holders can avail of this service. The last updated mobile number in the records of ICICI bank would be used to send the alerts. Currently, alert facility is not offered for two mobile numbers of the same account. Such alerts will be available to the customer only if the customer is within the cellular service range of the particular cellular service provider or within such area which forms part of the roaming network of such cellular service provider providing services to the customer availing such roaming facility from respective cellular service provider.
PROCESS
To receive alerts, the customer may select and set or any of the triggers through ICICI phone banking services or by logging into the internet banking account or by submitting an application in the prescribed format as application or by any other mode as notified by ICICI Bank from time to time. The customer shall be required to acquaint himself with the detailed process for using mobile alerts and ICICI Bank shall not be responsible for any error made by the customer while setting the triggers. In setting of the trigger by the customer, the terms and condition as applicable to ICICI Bank phone banking, ICICI Bank shall not be responsible for any error made by the customer while setting the triggers. The customer acknowledge that alert facility will be implemented in a phased manner and ICICI Bank may at a later stage, at its discretion, send alerts over email, expand the available trigger or alerts to meet customer requirements, or may discontinue all or any the facility/feature. ICICI Bank may, from time to time, change the features of any trigger or 57
alert. The customer shall be required to keep himself informed of the available trigger or alerts, which will be made available on the website. The customer may, from time to time, modify the triggers selected by him, without the necessity of a fresh registration. Any customer availing the facility will be provided with alert facility and/or request facility as may be decided by ICICI Bank from time to time. Keywords for various information requests shall be as may be provided for, from time to time, including on the application forms, or available at ICICI Phone banking centers and/or on the website.
Trigger will be processed by ICICI Bank after receipt and ICICI Bank shall have discretion to determine the time taken to process such request. The customer acknowledges that there shall be the triggers and the time that the alerts are sent. The customer acknowledges that the facilities provided is dependent on the infrastructure, connectivity and services provided by services providers engaged by ICICI Bank. The customer accepts that timelines, accuracy and readability of alerts sent by ICICI Bank. ICICI Bank shall not be liable for transmission of alerts to the customer. ICICI Bank shall endeavor to provide the facility on a best effort basis and the customer shall not hold ICICI Bank liable for non-availability of the facility or nonperformance by services providers, if any, engaged by ICICI Bank or any loss or damage caused to the customer as a result of use of the facility (including relying on the alerts for the customers commercial, investment or business purposes) for causes which are not attributable to ICICI Bank. ICICI Bank shall not be liable in any manner to the customer in connection with the use of the facility. The customer accepts that each alert may contain certain account information relating to the customer. The customer authorized ICICI bank to send account related information, though not specifically, if ICICI Bank deems that the same is relevant. ICICI Bank shall not be held responsible for the confidentiality, secrecy and security of the personal or account information being sent through the facility.
FEES
ICICI Bank reserves the right to the alert facility and revises such charges and such updates in charges shall be intimated to the customer through alerts/display on the website depending upon the discretion of ICICI Bank.
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15. BIBLIOGRAPHY
1. Book:- Ecommerce in Indian Banks 2. Magazines: - Professional Banker The ICEAI University 3. Business world 4. Economic times 5. Wikipedia
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