SBI's move is in line with the circular (dated July 6, 2017) issued by Reserve Bank of India (RBI).
- By registering his or her mobile number with SBI by November 30, 2018, the internet banking subscriber will be able to use the service in an "uninterrupted" manner, according to the bank's website.
- Users can also check if the mobile number is already registered with the bank by logging in to the internet banking facility.
- SBI's move is in line with the circular (dated July 6, 2017) issued by Reserve Bank of India (RBI). Commercial banks must ask their customers to mandatorily register for SMS alerts and wherever available register for e-mail alerts, for electronic banking transactions, RBI had said.
- The banks may not offer the facility of electronic transactions, other than ATM cash withdrawals, to customers who do not provide mobile numbers to the bank, the central bank had said.
- According to SBI, the internet banking portal provides personal banking services that gives complete control over all the banking demands online. It enables its retail banking customers to operate their accounts from anywhere anytime, removing the restrictions imposed by geography and time.
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