Over being the sub-agents of the HDFC Bank, Vodafone retailers may provide deposition and withdrawal of cash through their mobile phone without heading towards any banks.
Process to use mobile banking:
- A customer, if he or she wants to have a new account, he will have to fill in a Know Your Customer (KYC)form,
- The customer has to submit it to the retail outlet authorised by Vodafone,
- Then the customer can start availing service on fulfillment of the bank's formalities by dialing *135#
Talking about their decision to launch mobile banking in Rajasthan, HDFC Bank official said, "There are 6,00,000 habitations but only about 89,000 bank branches in the country, making access to banking services difficult in remote areas. We feel that Vodafone's significant distribution reach will provide customers the security of financial transaction offered by bank."
Meanwhile, Sunil Sood, Director, Business Operations at Vodafone India, said, "With our reach and ability to connect customers, we expect many million people to come into the banking fold through this service."