According to McKinsey Report, March 2010, more than 65% of population of India does not have a bank account. However 80% of population owns a mobile phone. Thus, banking over the mobile phone will play a major role in rural areas.
With rapid urbanization, when people iron rural areas start to adapt to city life, they create demand for goods such as television, refrigerators, and mobile phones. They emerge potential mobile banking customers, a fact that banks have been quick to spot. Mobile banking enables customers to transact on their own confidently and reliably without the need to visit a bank.
The aim of the study is to and out whether mobile banking is an asset to banks especially in rural areas. This paper uses primary data and secondary data for research. Methodology/Approach used is examination of the demographic, attitudinal and behavioural characteristics of the mobile bank users.