Regulators

TRAI begins exercise on common mobile banking for all sectors

http://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2016/08/05/Untitled-1_19.jpg?itok=R7s3G4o4

NEW DELHI: With consumers gradually getting attuned to it and the growth of Mobile Apps and OTT requiring mobile banking, the Telecom Regulatory Authority of India has started an exercise to find the best way of making or receiving payments through the mobile.

As a first step, it has issued a Consultation paper on regulatory framework for the use of USSD for mobile financial services. Stakeholders have been sent a set of ten questions and have to respond by 31 August with counter-comments by 14 September 2016.

Keeping in view the success achieved by many countries in delivering financial servicesthrough mobile telephone, the Government of India, in November, 2009, constituted an Inter-Ministerial Group (IMG) to submit a report and recommendations on the framework fordelivery of basic financial services using mobile phones. The framework proposed in the IMGreport has been accepted as the basis for delivery of basic financial services using mobile technology by a Committee of Secretaries under the chairmanship of the Cabinet Secretary in April 2010. The IMG framework envisages opening of mobile linked ?no- frills?accounts, which would be operated using mobile phones. These accounts would be held bybanks and the money would be stored in the banks and not in the users? mobile phones; thecustomer would be able to perform five basic transactions cash deposit, cash withdrawal,balance enquiry, transfer of money from one mobile-linked account to another, and transferof money to a mobile-linked account from a regular bank account. The IMG framework alsoenvisaged compensation to the key players after taking into account the actual costs incurred bythem. In the IMG framework, TRAI was expected to provide the required regulatory framework governing the quality of service, provisioning and pricing of mobile services for delivery of basicfinancial services.

Mobile financial services can be delivered using any of the following communication modes:
(i) Interactive Voice Response (IVR)
(ii) Short Messaging Service (SMS)
(iii) Wireless Access Protocol (WAP)
(iv) Stand-alone Mobile Application Clients (Mobile Apps)
(v) Unstructured Supplementary Service Data (USSD)
(vi) Using SIM tool Kit (STK)

With about 22.5 crore Jan-dhan accounts in the country, more than 100 crore Aadhar cardissued to the citizens and more than 100 crore mobile connections in the country (of whichabout 45 crore are in rural areas), it was expected that the USSD-based mobile banking servicewould gain popularity amongst the unbanked/ under-banked population (the target masses of financial inclusion) with passage of time and would soon achieve a critical mass. However, evenafter two years since August 2014, when it became available to all GSM subscribers in thecountry, the progress of USSD-based mobile banking is below expectations. In May 2016,only about 37 lakh mobile banking transaction attempts (over USSD channel) reached NPCI?splatform (*99#). Clearly, something is amiss. The situation demands a comprehensive review toensure that the service which has successfully deliver.

Latest Reads

http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/19/I%26B.jpg?itok=swj9cao5
MIB proposes to change mandatory sports feed sharing norms

In what could have far reaching effects on the financial viability of sports TV channels or streaming platforms, which acquire exlcusive rights for sporting events for the India region spending billions of dollars.

Regulators I&B Ministry
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/13/logo.jpg?itok=aKEOIe39
TDSAT asks SPN, Tata Sky to reach an agreement in 4 weeks

The Telecom Disputes Settlement Appellate Tribunal (TDSAT) has heard the case on the recent commercial dispute between Sony Pictures Networks India (SPN) and Tata Sky on a failed negotiation. TDSAT heard the case on 11 October and advised the parties to take four weeks to try and reach a mutually...

Regulators TDSAT
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/11/Madras-HC02-Story.jpg?itok=b6BwmcHX
Star India vs TRAI: Arguments conclude, SC likely to deliver verdict after Dussehra

Arguments in case relating to TRAI and Star India ended today in the Supreme Court.

Regulators Supreme Court
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/06/5G_services.jpg?itok=b4H_5MhJ
DoT to inquire TRAI about 28 GHz band for 5G service

The Department of Telecommunications (DoT) is planning to initiate talks for new bands to support 5G services in the country. The DoT will soon start discussing with the telecom regulator TRAI for 28GHz band for 5G commercial deployments. As per Economic Times, the DoT will also analyse pricing...

Regulators TRAI
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/27/TRAI-Story.jpg?itok=m81JA4fM
TRAI to be renamed as DCRAI

The Telecom Regulatory Authority of India’s name has been rechristened. From now, it will be called as the Digital Communications Regulatory Authority of India (DCRAI).

Regulators TRAI
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/19/sc.jpg?itok=-d4fsH80
TRAI vs. Star India case: next SC hearing on September 25

The Supreme Court has deferred the hearing of Star India’s petition against TRAI tariff and inter-connect order to 25 September 2018.

Regulators Supreme Court
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/13/Madras-HC02-Story.jpg?itok=e_lfwNMV
Trai vs. Star case: next SC hearing on Sept. 18

The Supreme Court has deferred the hearing of Star India’s petition against TRAI tariff and inter-connect order to 18 September 2018

Regulators Supreme Court
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/13/CVR_Health.jpg?itok=2RFG9MlX
MIB orders CVR Health to go off air for code violation

A health channel named CVR Health had telecast a show named ‘healthy nights’ in 2016 that was considered unsuitable for the television audience for which it was asked to go off air for three days with effect from 8-11 September 2018.

Regulators I&B Ministry
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/09/12/sc.jpg?itok=IgJUhuu8
SC adjourns Star India's petition on TRAI tariff order to 13 September

The Supreme Court has deferred the hearing of Star India’s petition against TRAI tariff and inter-connect order to 13 September 2018.

Regulators Supreme Court

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories