• About
  • Advertise
  • Privacy & Policy
  • Contact
  • Login
  • Register
insightVAS
Advertisement
  • Home
  • E-Commerce
  • Mobile Applications
  • Operation System
    • Windows
    • IOS
    • Linux
  • Technologies
    • Computer
    • Internet
    • Mobile
  • Technology Hacks
  • Telecom
    • Airtel
    • Bsnl
    • Idea
    • Jio
    • Vodafone
    • 3G/4G
    • Devices
    • Telecom Equipment
No Result
View All Result
  • Home
  • E-Commerce
  • Mobile Applications
  • Operation System
    • Windows
    • IOS
    • Linux
  • Technologies
    • Computer
    • Internet
    • Mobile
  • Technology Hacks
  • Telecom
    • Airtel
    • Bsnl
    • Idea
    • Jio
    • Vodafone
    • 3G/4G
    • Devices
    • Telecom Equipment
No Result
View All Result
insightVAS
No Result
View All Result
Home Telecom

Trai proposes cutting USSD charges for mobile banking to zero, Telecom News, ET Telecom

asquare by asquare
25/11/2021
in Telecom
0 0
0
Trai proposes cutting USSD charges for mobile banking to zero, Telecom News, ET Telecom
0
SHARES
96
VIEWS
Share on FacebookShare on Twitter


Trai proposes cutting USSD charges for mobile banking to zeroKolkata: The telecom regulator on Wednesday proposed reducing tariffs for USSD-based mobile banking and payment services to zero from 50 paise, in a bid to protect the interest of feature phone users and boost digital financial inclusion.

“The Authority proposes to revise the framework for USSD-based mobile banking and payment services by prescribing a “nil” charge per session as rationalisation is a necessity to protect interests of target user groups and promote digital financial inclusion,” the Telecom Regulatory Authority of India (Trai) said in its draft Telecommunication Tariff (66th Amendment) order, notified Wednesday.

It, though, said it “may review the charge after two years, based on experience gained”. The regulator has set a December 8 deadline for stakeholder comments on the new draft regulation.

The USSD (Unstructured Supplementary Service Data) is a service that uses a short code for making transactions or inquiries. Since it does not need a data connection, the service is used by a large majority of people, primarily feature phone users, and is therefore also used as a medium for no-frills banking transactions.

Trai attributed its call for rationalisation to the fact that the present tariff of 50 paise per USSD session is several times higher than the average tariff for a one minute outgoing voice call (Re 0.04 per minute), or an outgoing SMS (Re 0.01 per text message).

The relatively high charge for a USSD (session), it said, is “acting as an impediment” in increasing the number of transactions, despite significant improvement in success rates.

The regulator added that “a consumer is also being charged for both successful as well as failed transactions,” which puts extra financial burden, given the potential popularity of USSD amongst rural, under-privileged and low-income groups.

In its draft order, Trai said the Department of Financial Services (DFS) had requested it to “waive USSD charges to facilitate faster adoption of these services” by common people — especially in rural/difficult areas –- the population segment for whom the Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts scheme was established to drive financial inclusion.

In this context, the sector regulator said the Reserve Bank of India (RBI) had also constituted a high-level committee on deepening of digital payments (CDDP). And a key recommendation of the panel is that “charges for USSD usage be further rationalised and the technology be made feature-rich” to increase adoption and popularity.

In fact, the USSD service is used by many feature phone users to check balance in their bank accounts, do peer-to-peer money transfers, cash withdrawals and deposits from banking correspondents in small towns and rural areas. With rising mobile penetration in rural India, the mobile phone is seen as a powerful tool to promote digital financial inclusion.

Back in November 2016, the sector regulator had cut the per session rate for USSD-based mobile banking transactions to 50 paise from Rs 1.50 previously.





Source link

asquare

asquare

Stay Connected test

  • 121 Followers
  • 23.7k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
“Volume Hash Mismatch” Error in MacOS Monterey

“Volume Hash Mismatch” Error in MacOS Monterey

11/11/2021
Trai proposes cutting USSD charges for mobile banking to zero, Telecom News, ET Telecom

Trai proposes cutting USSD charges for mobile banking to zero, Telecom News, ET Telecom

25/11/2021
How to Check sha256 Hash of a File on Mac

How to Check sha256 Hash of a File on Mac

18/12/2021
MacOS Monterey Problems & Issues – Troubleshooting

MacOS Monterey Problems & Issues – Troubleshooting

04/11/2021
Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

0
Apple iPhone 13 vs Apple iPhone 12: What’s changed and what’s not

Apple iPhone 13 vs Apple iPhone 12: What’s changed and what’s not

0
Are you a spendthrift or a frugal? Find out as per zodiac sign

Are you a spendthrift or a frugal? Find out as per zodiac sign

0
Amazon app quiz September 15, 2021: Get answers to these five questions and win Rs 25,000 in Amazon Pay balance

Amazon app quiz September 15, 2021: Get answers to these five questions and win Rs 25,000 in Amazon Pay balance

0
Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

07/02/2023
Ericsson, Telecom News, ET Telecom

Ericsson, Telecom News, ET Telecom

07/02/2023
STMicro leans on AI, cloud as chip designs become more complex, Telecom News, ET Telecom

STMicro leans on AI, cloud as chip designs become more complex, Telecom News, ET Telecom

07/02/2023
WhatsApp announces new Status features: What are they, how do they work and more

WhatsApp announces new Status features: What are they, how do they work and more

07/02/2023

Recent News

Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

07/02/2023
Ericsson, Telecom News, ET Telecom

Ericsson, Telecom News, ET Telecom

07/02/2023
STMicro leans on AI, cloud as chip designs become more complex, Telecom News, ET Telecom

STMicro leans on AI, cloud as chip designs become more complex, Telecom News, ET Telecom

07/02/2023
WhatsApp announces new Status features: What are they, how do they work and more

WhatsApp announces new Status features: What are they, how do they work and more

07/02/2023
insightVAS

Follow Us

Browse by Category

  • 3G/4G
  • Computer
  • Devices
  • E-Commerce
  • Internet
  • IOS
  • Latest News
  • Linux
  • Mobile Applications
  • Technologies
  • Technology Hacks
  • Telecom
  • Telecom Equipment
  • Windows

Recent News

Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

Bharti Airtel Q3 net profit up 91.5% on-yr to Rs 1,588 cr, Telecom News, ET Telecom

07/02/2023
Ericsson, Telecom News, ET Telecom

Ericsson, Telecom News, ET Telecom

07/02/2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2021

No Result
View All Result
  • Home
  • E-Commerce
  • Mobile Applications
  • Operation System
    • Windows
    • IOS
    • Linux
  • Technologies
    • Computer
    • Internet
    • Mobile
  • Technology Hacks
  • Telecom
    • Airtel
    • Bsnl
    • Idea
    • Jio
    • Vodafone
    • 3G/4G
    • Devices
    • Telecom Equipment

© 2021

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?