Delhi, India (PressExposure) March 26, 2009 -- According to our new research report âIndian Banking Sector Forecast to 2012â, Indiaâs demographic profile along with rising mobile subscriber base will make mobile transactions popular among bank customers in coming years. Majority of the Indian population is below 35 years of age and the most technology savvy among all age groups. This segment is expected to account for more than 50% of total mobile banking transactions, with continuous rise in years to come.
Mobile banking will enable banks to offer services to customers even in remote areas without having the branch network. Public sector banks are dominating the rural market, but the scenario is anticipated to change when the mobile based banking services would be launched at commercial scale.
Moreover, customers have been migrating from branch banking to the host of non-branch channels like ATMs, call centre and internet banking. With the launch of mobile banking, all Internet banking transactions can be performed on mobile phones. Customers can now transfer funds to bank accounts, pay their utility bills and do several other operations from their mobile phones.
Although the mobile banking market in India is in its nascent stage of development, there are ample growth opportunities due to large consumer base and tendency to adapt new technology services easily. It is expected that the mobile banking industry will see significant transformation once banks, cellular operators and payment service providers commercialize their services.
âIndian Banking Sector Forecast to 2012â provides comprehensive research and rational analysis on various segments, like assets size, income level and number of cardholders, in the Indian banking industry. It also studies the current performance and growth opportunities that help clients to understand various products available in the market and their future scope. The future projections are made after analyzing the current market scenario, past trends and regulations laid by the central bank.
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