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TRAI reduces ceiling tariff for mobile banking services
NEW DELHI: It couldn’t have come at a more opportune moment, especially when the country is reeling under a severe cash crunch in the aftermath of demonetization of Rs 500 and Rs 1,000 currency notes. Telecom Regulatory Authority of India (TRAI) in an order yesterday reduced the ceiling tariff for the use of unstructured supplementary service data (USSD)-based mobile banking services from Rs 1.50 to Rs.0.50.
TRAI also amended the Mobile Banking (Quality of Service) Regulations to increase the number of stages from 5 to 8 per USSD session.
These amendments will facilitate banks, their agents or any entity authorized by the Reserve Bank of India for better delivery of banking and payment services to the consumers through mobile phones over USSD.
Though these regulatory decisions are an outcome of a detailed consultation process initiated in August 2016, the timing cannot be missed as PM Modi-led government’s move on arresting black money and bring about more transparency through digitalization, including digital banking, has led to partial chaos in society and economy in the short to medium terms.
“The availability of and easy access to banking services for all our citizens is a major objective of public policy. However, the harsh reality is that a large section of our population is still unbanked/under-banked. With a significant penetration of mobile telephony in rural India, the mobile phone can be leveraged to achieve the goal of financial inclusion. Accordingly, in November, 2013, with a view to facilitate mobile banking for financial inclusion, TRAI had established a framework to facilitate the agents of the banks to interface with the access service providers for use of SMS, USSD and IVR channels to provide mobile banking services and prescribed ceiling tariff of Rs. 1.50 per USSD session for USSD-based mobile banking service. However, all these initiatives did not lead to the desired result and both the number of transactions and success rate are below expectation,” TRAI said in a statement while mandating the tariff reductions.
The latest diktat on USSD tariffs, which come into force with immediate effect, would, according to TRAI, hopefully result in greater financial inclusion in the country and contribute to the fulfillment of an important aspect of Digital India by encouraging a ‘less cash’ society.
Welcoming the government’s initiatives to accelerate India’s progress into a `less cash’ economy, Vodafone India MD & CEO Sunil Sood said, “Vodafone India is committed to help actualise the government’s several initiatives designed to make India a digital economy. To ease the burden of masses, we are waiving off all USSD charges presently levied for mobile banking till 31 December 2016. As several million customers use feature phones, we are hopeful that this free access to mobile banking will encourage them to adopt it as their preferred and convenient mode for banking.”
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
