News Roundup: RBI allows banks to accept spectrum as collateral
The Reserve Bank of India has approved the proposal to allow mobile phone companies to mortgage airwaves, a move that will allow telcos to use spectrum as collateral and raise funds from banks for the upcoming auctions. Banks will enjoy the rights to sell, transfer, assign, exchange and dispose of the airwaves without any restraining conditions to protect their interests, the central bank said in May 30 communication to the finance ministry. [source]
Pranab: Free all e-banking transactions from charges
Addressing the chief executives of public sector banks and financial institutions here on Tuesday, the Finance Minister appreciated the recent decision taken by Oriental Bank of Commerce to waive all charges for Net-based real time gross settlement (RTGS) /national electronic fund transfer (NEFT) transactions up to Rs 1 lakh.
I would also urge upon the Reserve Bank of India to proactively work on this front and to see that all electronic banking transactions are possible without any charges being levied [source].
My Mobile Payments launches m-wallet service
The payment system is independent of the consumer’s bank and mobile operator which allows mobile subscribers to avail themselves of services through an SMS without any premium charges to it. The money recharged gets saved in the escrow accounts with the RBI.
NTT DoCoMo mulls increasing stake in Tata Teleservices
NTT DoCoMo can take its share holding from 26 per cent at present to up to 49 per cent under a call option agreed between the two parties four years ago (currently own 26%) – source.