Legal Question in Banking Law in India
Sir, What are Reserve Bank of India`s guidelines for Phone Banking in India, whether debit consent over telephone is acceptable from customer after verifying the Customers identity for transferring amount from his account to some other customer`s account, if yes Please tell me the circular no, and also the Legal opinion in this matter
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Adv Rajiv
04.09.2013
Dear Sir / Madam,
NO. As per prevailing TRAI - Telecom Regulatory Authority of India guidelines, the outstanding bill balance amount of one customer cannot be transferred to another customer.
Regards,
1) All RBI Circulars are available on RBI's web-sire.
2) RBI gives general guidelines - does not specify as to how each transaction is to be done.
3) Unless one studies - no opinion can be given.
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