New Delhi, Tech Desk. Mobile Banking Service: In order to promote digital transactions in the country, the Telecom Regulatory Authority of India (TRAI) has presented a draft. Under which SMS based USSD service related to mobile banking has been proposed to be made free, for which till now 50 paise per SMS is charged per USSD session. Zero charge per USSD session has been proposed by TRAI for mobile based banking and payment service. With this, services like checking bank balance from mobile will be completely free. To promote digital service.
What is USSD Service
Unstructured Supplementary Service Data ie USSD Service. USSD service is a facility to know the balance and transfer funds through message from mobile. For this your mobile number must be linked with the bank. After this, users can do many types of banking services including * 999 # bank balance without internet. This is especially for feature phones. Such messages are not stored in the phone.
TRAI sought suggestions by December 8
According to TRAI, USSD charge should be abolished to promote digital service. In such a situation, TRAI has proposed zero charge per USSD session. If the USSD charge draft is approved, then digital transactions may see an increase. TRAI has sought suggestions on this proposal by 8 December. Let us tell you that the Reserve Bank of India (RBI) is constantly trying to promote digital transactions. For this, a committee has also been constituted by RBI, which gives suggestions in such matters. The RBI committee believes that the USSD charge should be removed to promote digital payments.