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


Asked on 9/03/13, 10:33 pm

3 Answers from Attorneys
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

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Adv Rajiv

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Answered on 9/03/13, 10:45 pm
Fca Prashant Chavan Expert Edge LLP

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,

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Answered on 9/03/13, 10:57 pm
Jayesh Desai Jayesh Desai

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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Answered on 9/06/13, 2:31 am


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