Banking and monetary regulator Reserve Bank of India has indicated that mobile banking should be introduced by more banks. The idea was put forward by RBI deputy governor Shyamala Gopinath.

Gopinath said so during the launch of CanMobile, the mobile banking facility introduced by public sector lender Canara Bank.

"...And we do hope that more and more banks now join in the launch of this product," she said.

CMD of Canara Bank, Mr S Raman said that the product is a safe, secure, swift and user friendly one.

Customers can use the service round the clock from anywhere on their mobile phones.

Customers who register to CanMobile can now avail services of Interbank Mobile Payment System (IMPS) provided by National Payments Corporation of India (NPCI).

Presently there is no service charge levied for funds transfer.