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New Delhi, Jul 13: The Telecom Regulatory Authority of India (TRAI) has blocked Bharti Airtel's Platinum and Vodafone Idea's RedX premium plans that offer faster data speeds and priority services to customers as both the plans were violating net neutrality norms.

The telecom watchdog has asked Bharti Airtel to explain within seven days how such a similar plan being launched does not violate the rules of net neutrality.

Vodafone Idea's RedX plan has been in the market since November 2019. They made some modifications in May 2020 and the Bharti Airtel was soon going to launch a similar plan.

According to TRAI, the higher speed for premium customers discriminate against others and violates net neutrality.

Responding to TRAI's move, Airtel spokesperson said: "We are passionate about delivering the best network and service experience to all our customers. This is why we have a relentless obsession to eliminate faults and have been consistently recognised by international agencies as the best network in terms of speed, latency and video experience."

"At the same time, we want to keep raising the bar for our post-paid customers in terms of service and responsiveness. This is an ongoing effort at our end," the spokesperson said.

New Delhi, Mar 10: Crisis-hit Yes Bank on Tuesday said that it has enabled inward IMPS and NEFT services.

The move allows people to send money from other bank accounts to their Yes Bank account through IMPS (Immediate Payment Service) and NEFT (National Electronic Funds Transfer) mode.

In a tweet, the bank also said that Yes Bank customers can pay their credit card dues and loan obligations from other bank accounts.

"Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan obligations from other bank accounts. Thank you for your co-operation. @RBIA @FinMinIndia," said tweet.

Last week Yes Bank was placed under moratorium and a withdrawal cap of Rs 50,000 was imposed till April 3.

The administrator of Yes Bank, Prashant Kumar and Rajnish Kumar, the Chairman of the State Bank of India are hopeful that moratorium would be lifted within a week.

As per the Reserve Bank of India (RBI) draft reconstruction scheme for the crisis-hit private lender, the SBI will take up 49 per cent in the bank by investing Rs 2,450 crore.

The new board of directors will stand constituted from the appointed date. It will comprise a CEO and MD, non-executive chairman and non-executive directors. The SBI will have nominee directors appointed on the board of the reconstructed bank.

The RBI may appoint additional directors to the board, who shall continue in office for one year, or until an alternate board is constituted by Yes Bank.

The SBI will not reduce its holding below 26 per cent before completion of three years from the date of infusion of the capital.

New Delhi, Jun 12: The Supreme Court on Friday asked Solicitor General Tushar Mehta to convene a meeting of the Finance Ministry and RBI officials over the weekend to decide whether interest incurred on EMIs during the moratorium period can be charged by banks.

A bench comprising Justices Ashok Bhushan, Sanjay Kishan Kaul and M.R. Shah queried Mehta as the court was concerned since the Centre has deferred loan for three months.

"Then how can interest of these 3 months be added?" the apex bench asked. Mehta replied: "I need to sit down with the RBI officials and have a meeting."

SBI's counsel, senior advocate Mukul Rohatgi, intervened during the proceedings and said "all banks are of the view that interest cannot be waived for a six month EMI moratorium period".

"We need to discuss it with the RBI," insisted Rohatgi.

Justice Bhushan then asked Mehta to convene a meeting of the RBI and Finance Ministry officials over the weekend, and listed the matter for further hearing on June 17.

The top court, during the hearing, indicated that it was not considering a complete waiver of interest but was only concerned that postponement of interest shouldn't accrue further interest on it.

After the RBI said the waiver of interest charges on EMIs during moratorium will lead to loss of 1 per cent of the nation's GDP, the top court had earlier asked the Finance Ministry to reply, whether the interest could be waived or it would continue during the moratorium period.

The top court said these are not normal times, and it is a serious issue, as on one hand moratorium is granted and then, the interest is charged on loans during this period.

"There are two issues in this (matter). No interest during the moratorium period and no interest on interest," said Justice Bhushan. The observation from the bench came on a petition by Gajendra Sharma, in which he sought a direction to declare portion of the RBI's March 27 notification as ultra vires to the extent it charged interest on the loan amount during the moratorium period.