The Telecom Regulatory Authority of India's Mobile Banking (Quality of Service) (Second Amendment) Regulations, 2016 amends the Mobile Banking (Quality of Service) Regulations, 2012, and aims to lay down a revised framework for mobile banking transactions and USSD based mobile banking and payment services. The amendment prescribes a revised QoS regulation for conducting a financial transaction including banking transaction through a mobile phone over USSD. The document also includes an explanatory memorandum which provides the rationale for this regulatory action.
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