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RBI scraps charges on RTGS, NEFT transactions: Key announcements

In a bid to encourage digital payments across the country, the Reserve Bank of India (RBI) has announced a host of new measures, including elimination of charges for RTGS and NEFT transactions in both public and private sector banks, followed by its monetary policy June 2019 meeting held on Thursday. Addressing a press conference after the Monetary Policy Committee's meeting in Mumbai, RBI Governor Shaktikanta Das said, "RBI levies minimum charges on banks for transactions routed through RTGS and NEFT system for other fund transfers. Banks, in turn, levy charges on their customers".

Updated : 06 June 2019, 02:38 PM