The expansion of banking and reach of financial services is considered to be vital for the long-term sustainable development of any country. From the standpoint of equity, it is essential that financial services are provided at an affordable cost to those who are presently excluded from the formal financial system. Mobile telephony could be the answer to the problems related to ‘last mile’ service delivery of financial services.
In order to identify and address the various issues for the use of USSD-based Mobile Financial Services, Telecom Regulatory Authority of India (TRAI) has released Consultation Paper on ‘Review of regulatory framework for the use of USSD for mobile financial services’ on 2nd August, 2016 for comments.
The objective of this Consultation Paper (CP) is to examine the need of mobile based financial services in the country from a public perspective, discuss the issues in its proliferation and to explore solutions for the same.
The Authority has extended the time for submission of comments upto 14th September, 2016 and counter comments by 28th September, 2016.
Read: Consultation Paper
TRAI should ensure whether people are getting adequate service from telecom companies. I do have Bsnl connection and a vodafone.. The problem which I am facing is Bsnl is not having coverage in area and every time when I call server message comes as all routes are busy. And when the call gets connected after 2 or 3 seconds call disconnects.. And more over I do have Bsnl land phone when phone is not working and when complains to authorities it will take atleast a month to get it repaired.. Help
Inclusion YES, but excellence of the technology should be tested and implemented. TRAI should regulate the telephone operators and make them responsible for spammers using their telephone service. This is increase the confidence factor in the system and increase the acceptability.
Everyday we receive calls from Bank/Insurance/Financer or other such service providers to promote sale of their product or for sharing of some information. Many times its very difficult to identify the call is from right side or not, therefore to prevent the same -
Like to identity the URL / Website is genuine we find https instead of http, similarly can we have a genuine symbol along with registered tellecallers name while receiving the call in any handset having internet service.
All complaining numbers must be toll free to increase every one to logged a complain.
TRAI continues to remain under a state of confusion. USSD service must be free or a charge may be levied uniformly at Rs. 0.10 per USSD. Network needs to be improved. Currently many USSD calls are returned - as no wrong or network not available.
When i used USSD banking services it will be charges Rs.1.50 Paisa per transaction. Kindly please make empty charges , and give us to use this services free.
First time I tried using USSD, I was shocked at the cost. Each msg is a sms and cost the same as one. I don't use a SMS pack so cost is 50 paisa or 1 Rs per msg. This is too much.
For such system the cost has to be minimal. In this case, I suggest that USSD for banking should be free.
Many operators offer 5 paisa or lower cost per SMS for bulk users, So if the banks want to save cost and encourage Electronic banking, then they can absorb the cost of Banking USSD or else Telecom Operators
Hi,
Q1 answer. There should not be any limit on the USSD. There may be a customer who will experience connectivity issues especially in rural areas and limiting ussd only puts the service at a disadvantage. USSD message limit needs limiting depending only on security issue like high frequency of transaction(suspicious ones, etc).
Q2 and up: Regarding the cost model, we should not charge customer at their first transaction, you can charge ₹50/yr after customer realises the fastness of USSD!
Sir
please all type of electronic transaction FREE. increase bandwidth of the line. provide a good quality of the signals.
villages shuld get new mobile tower & it shuld be survayed on basis of population of village panchayat (ex.if panchayat population above1000 it shuld get tower) if there is no any mobile operator at panchayat location.