This means that now SMS services related to mobile banking will be free. Let us tell you that till now 50 paise per USSD session is charged for mobile banking. On the other hand, TRAI has proposed zero charge per USSD session for mobile based banking and payment service. With this, services like checking bank balance from mobile will be completely free. It is believed that this will encourage digital service.
Know also about USSD service
USSD stands for Unstructured Supplementary Service Data. Let us know that the facility of checking balance and fund transfer is made available through message from mobile to USSD service. 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.
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Let us tell you that this feature is exclusively for the phone. This type of service is used more especially in rural areas, these SMS are not stored in the phone. TRAI has sought suggestions on this draft by December 8. According to TRAI, USSD charge should be abolished to promote digital service. For this, TRAI has proposed zero charge per USSD session. Now if the USSD charge draft is approved, then digital transactions can see an increase.