(Last Updated On: September 30, 2014)

Reliance Communications has launched the much awaited USSD-based mobile banking services on both, GSM and CDMA mobile phones.

Unlike other mobile banking solutions, this service can run even on early feature phones having monochrome displays. It utilizes the USSD (Unstructured Supplementary Service Data) functionality present in all the phones made till date. It gives the users access to 29 nationalized banks with a single press/touch of a button.

mobile banking


You just have to dial *99# on your mobile phone and follow the rest of the steps for making bill payments, getting mini statement, balance enquiry, change of PIN, cheque book request, etc. But, as of now, the service will be restricted to only basic banking facilities like bill payments of low value, etc.

It runs without the Internet and costs Rs. 1.5 per session.

RCom has integrated NCPI (National Payments Corporation of India) gateways with its USSD gateways to make this a reality. In a statement, RCom’s CEO Vinod Sawhny said, “Financial inclusion is a national priority. Mobile technology has a crucial role to play in servicing the under-banked and un-banked sections of society”.

NCPI will manage call flow and banking menu with the respective banks. RCom announced that it had finished testing the service at Dhirubhai Ambani Knowledge City, Navi Mumbai, on various types of GSM phones.

Alpna J Doshi, CIO at RCom said that the service will not only take telcos closer to the banks, it will also cover all types of customers.


Mobile banking services like this have been around us for quite some time, but they were not made for ordinary handsets. I seriously think that now is the time when we can say that technology is affordable to common man. What are your thoughts about this?