Telecom Regulatory Authority of India (Trai) issued the new regulations for mobile banking.With this, service providers need to facilitate the banks to use text messages, unstructured supplementary services sata (USSD) and interactive voice response (IVR) to provide banking services to its customers. The access service providers can also optionally facilitate the bank to use WAP.

The service providers will need to meet the quality of service standards laid by Trai for mobile telephone services.

In this Union Budget a record government borrowing programme of Rs 5.69 lakh crore to finance a fiscal deficit forecast at 5.1 percent of GDP for the financial year ending March 2013. The fiscal deficit is estimated at 5.9 percent of GDP in the previous financial year.

According to the indicative calendar issued by the RBI last week, the government plans to borrow an average of Rs 15,000 crore every week in the first half of financial 2012-13. So this Type of Deficit and Inflation increase leave little room for the central bank to cut rates.

Nifty and BSE Sensex manages to Closes in Green after a Long Day of Volatility.Nifty Touches the day low Near 5230 and the High on 5295.But the Ticks on Both the Exchanges are Unepected and Traders feel the Heat too.