Telecom regulator Trai today extendED the last date for submission of comments by the

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stakeholders on the mobile banking to December 15, 2010.

Trai has extended the time for sending their comments by stakeholders upto December 8 and counter comments upto December 15, 2010, the regulator said in a statement.

Earlier the date for submission was November 30.

In October, Trai had asked operators to give their views on methods of communication on mobile network that would be suitable for enabling financial transactions through mobile phones.

The method of security requirement proposed by service providers is for five basic transactions -- no-frills account opening, cash in, cash out, checking balance and money transfer.

The National Sample Survey data reveals that 51.4 per cent of nearly 89.3 million farmer households do not have access to any credit either from institutional or non institutional sources.

A large percentage of rural population does not have a deposit account which means that they do not have access to even basic financial services.

Around 209 million rural mobile subscribers far outstrip bank account holders in rural areas.

Access to basic financial service continues to be an unrealised dream for millions of people in the country.

It is felt the feedback from different stakeholders would help the telecom department set the parameters for making the service accessible and more secure.