You will have to wait a little while before life can get more comfortable for you. The option of money transfer through mobiles, which undoubtedly held the promise of an easier choice, has been put on hold by RBI.

RBI has asked banks to keep their mobile payment services on hold till a proper set of guidelines are issued for the same. However, there is no hold on basic services such as credit or debit entries, balance enquiries which basically adds up to the fact that the information services can go on as usual.

Bharti Airtel which is one of the biggest names in the mobile banking services said it was not affected in any particular way, as it was involved only in passing information rather than any actual money transfers.

RBI wants to put proper norms in place and issue clear-cut guidelines to the banks before the mobile banking transactions begin. However, no time-frame has been set as yet, for issuing these final guidelines.