Unclaimed telco refunds to go into consumer fund

Why is it in the news?
  • The Telecom Regulatory Authority of India (TRAI) said telecom service providers will need to deposit all unclaimed money of consumers, including excess charges and security deposit, in the Telecommunication Consumers Education and Protection Fund (TCEPF).
More in the news
  • There is a need to bring clarity among service providers in depositing money which they are unable to refund to the consumers.
  • The fund will be utilised for the welfare measures of the consumers.
  • The TCEPF Regulations, 2007, which have now been amended, provide the basic framework for depositing unclaimed money of consumers by service providers, maintenance of the TCEPF and other related aspects.
Source
The Hindu.
Posted by Jawwad Kazi on 17th Jan 2020
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