The Telecom Regulatory Authority of India (TRAI) has informed that 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).

Telecommunication Consumers Education and Protection Fund (TCEPF)

• The TCEPF Regulations, 2007 have been amended to provide the basic framework for depositing unclaimed money of consumers by service providers, maintenance of the TCEPF and other related aspects.
• Any unclaimed / unrefundable amount belonging to consumers in the TCEP fund will be utilized for the welfare measures of the consumers.
• With this amendment, service providers will deposit any unclaimed consumer money of any form such as excess charges, security deposit, plan charges of failed activations, or any amount belonging to a consumer, which service providers are unable to refund to consumers.

Why such move?

• The TRAI observed that there is a need to bring clarity among service providers in depositing money which they are unable to refund to the consumers.
• While some service providers were depositing money only on account of excess billing revealed in the audit, others were depositing unclaimed money such as security deposits and plan charges of failed activations.

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