RAS question
TRAI regulates:
Correct answer: (D) Telecom tariffs and service quality.
TRAI regulates telecom services, including telecom tariffs and quality of service.
Explanation
TRAI is the Telecom Regulatory Authority of India, established by the Telecom Regulatory Authority of India Act, 1997. The official TRAI page states that it was set up to regulate telecom services, including the fixation and revision of tariffs for telecom services. Telecom tariffs and service quality fall within the regulatory field assigned to TRAI, along with related telecom issues such as interconnection. TRAI's telecom regulatory role also covers spectrum-related matters and broadcasting and cable services. The common exam trap is to treat all economic regulators as interchangeable; here the sector is decisive.
Why the other options are wrong
- (A) Banking interest rates fall under banking regulation by the RBI, not TRAI.
- (B) Insurance premiums belong to the insurance sector, regulated by IRDAI rather than TRAI.
- (C) Stock markets are capital-market institutions regulated by SEBI, not TRAI.
Concept
The Indian Economy syllabus covers sectoral regulators and their statutory domains. RAS frequently uses institutions such as TRAI, RBI, IRDAI and SEBI because they are easy to confuse unless their regulated sectors are kept separate.