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RBI removes charges on NEFT and RTGS: Digital India

  • RBI has removed charges for NEFT, RTGS payments.
  • It has asked banks to pass on benefits to customers.
  • This move will benefit the small traders who deal in small value transactions and operates on small margins.

This is a milestone in push for Digital India, since it’s goes light on the pockets of customers as well as the treasury of the traders who are currently hesitant to accept online Transfers as they are required to pay transaction charges.

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