This is a landmark event in India. The regulatory body has taken the first step in outlining guidelines for mobile banking in India. Targeted at banks and financial institutions that fall within its ambit, the draft document is simplistic at times, but does reinforce the intent.
The need and objectives are fairly obvious, and would have preferred some finer details. I'm perhaps left asking more questions than answers being questioned.
But, to be fair to them, this domain is a fairly complex confluence of multiple industries and technologies, and they would do well in defining the ground rules in what I call the "banking & finance" layer.
If you'd like to read the report click here