The Reserve Bank of India (RBI) has asked all banks to hold their mobile payment services till the apex bank comes out with final guidelines on the service.

The Reserve Bank of India (RBI) has asked all banks to hold their mobile payment services till the apex bank comes out with final guidelines on the service. RBI had earlier placed draft guidelines for payment and other services through mobiles and had sought comments from various stakeholders. Though RBI has no objection to the use of the mobile channel for providing basic services such as alerts for credit or debit transactions and balance enquiries, the bank is of the opinion that care needs to be taken while allowing the channel for customers to initiate payment instructions.