With mobile banking is gaining popularity, it is no surprise that Reserve Bank of India (RBI) has raised the daily transaction limit for mobile banking from Rs 5,000 to Rs 50,000. The remittance limit is Rs 5,000 per transaction and Rs 25,000 per month for a single customer. The earlier daily limit of Rs 5,000 per customer for funds transfer and Rs 10,000 per customer for purchase of goods and services had restricted the users to limited number of transactions. Now, users can look at paying insurance bills, buying air tickets and doing many more big-ticket transactions. Concern about security of transactions remain. RBI notifications say that the risks involved can be addressed by the banks by providing adequate security systems. As per the new rules, banks can offer mobile transactions up to Rs 1,000 without end-to-end encryption, which may cast doubts about the security of such transactions. In order to rope in more customers, the banks may have to ensure that enough security is provided for all transactions.