Problem Statement: Banking Business is growing rapidly with many operational changes and policies related to it. However, the upgrades in the IT and Mobile Phones for Banking Business should be addressed, the present study involves into the same. Information Technology, a vibrant tool to mitigate the business practical problems and it is helping directly and indirectly to enable the success in all business. Banking Industry is not exempted from that. The mobile phone users are getting increased day by day and particularly smartphone users. With all the new smartphones announced over the past few months including the iPhone 5, it should come as no surprise that many people are looking to buy a new smartphone. Method: After the look given on collected reviews, the theoretical information is given in order to comprehend what the mobile banking is and how it can be useful for different services in banking. Then, the accumulated secondary data were processed with simple charts to present in easy way. Result: Observed from the publically available sources that the Apple sold five million iPhone 5s in the first three days after the product's launch; the sales set a new record for Apple. More than two million people pre-ordered the device, twice the number that pre-ordered its predecessor, the iPhone 4S, and the company sold out of its initial production run. In the analysis section, the mobile banking transactions monthly volume and values in India from May 2009 to November 2011 clearly confirms upward movements. Conclusion: The IT is behind in the production of mobile/smartphones and also in application creation for banking operations. Hence, we can tell that the information technology will help to enhance banking business through mobile phones; simply it’s a smart and rich way. The banking business will get increase if all type banking activities are possible in one touch on mobile phones. This present study covers the evidence from India about the mobile banking transactions in both volume and value, which will help to understand the emergence of Mobile Banking business in India.