Trai wants FM to push m-banking

Trai wants FM to push m-banking

Aiming to promote financial inclusion across the country, the Telecom Regulatory Authority of India (Trai) had written to the Finance Ministry seeking that banks be asked to move forward on mobile banking.

A system is already in place for the service and banks need to “wake up and move” on it, Trai Chairman Rahul Khullar said during an Assocham event on financial inclusion.

He said the Trai had written to the Finance Ministry requesting it to direct banks to
promote mobile banking aggressively.

Trai had in November issued guidelines and tariffs on unstructured supplementary service data (USSD)-based mobile banking services. The guidelines, which came into force from January 1, have prescribed the ceiling tariff for an outgoing USSD-based mobile banking service at Rs 1.50 per session.

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