Aiming to endorse the use of mobile banking services across India, the Telecom Regulatory Authority of India (TRAI) has released the tariff structure and guidelines for unstructured supplementary service data (USSD)-based mobile banking services, which is used by telecom operators to send alerts to their users.
Further while, TRAI has prescribed a ceiling tariff for an outgoing unstructured supplementary service data (USSD)-based mobile banking service at Rs 1.50 per USSD session, it has come out with a framework to help bank agents to interface with service providers for the use of SMS, USSD and IVR channels to provide mobile banking services.
In view of the fact that large section of population, especially rural areas, do not have an easy access to banks, the authority wants to utilize the benefits of mobile banking for financial inclusion. It has underscored that telecom service providers should collect charges from their subscribers for providing the USSD to deliver mobile banking services.
Meanwhile, TRAI in its report highlighted that while Mobile Banking (Quality of Service) (Amendment) Regulations, 2013 have come into immediate effect, the Telecommunication Tariff (56th Amendment) Order, 2013 shall come into force on January 1, 2014.
Further while, TRAI has prescribed a ceiling tariff for an outgoing unstructured supplementary service data (USSD)-based mobile banking service at Rs 1.50 per USSD session, it has come out with a framework to help bank agents to interface with service providers for the use of SMS, USSD and IVR channels to provide mobile banking services.
In view of the fact that large section of population, especially rural areas, do not have an easy access to banks, the authority wants to utilize the benefits of mobile banking for financial inclusion. It has underscored that telecom service providers should collect charges from their subscribers for providing the USSD to deliver mobile banking services.
Meanwhile, TRAI in its report highlighted that while Mobile Banking (Quality of Service) (Amendment) Regulations, 2013 have come into immediate effect, the Telecommunication Tariff (56th Amendment) Order, 2013 shall come into force on January 1, 2014.
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