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RBI removes charges on RTGS/NEFT transactions;

  • The Reserve Bank of India on Thursday said it has done away with charges on fund transfers through RTGS and NEFT routes to boost digital transactions and asked banks to pass on the benefits to customers.
  • In its statement on developmental and regulatory policies after the Monetary Policy Committee’s meeting, the said it levies minimum charges on banks for transactions routed through RTGS and NEFT system for other fund transfers.
  • In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by the RBI for transactions processed in the RTGS and NEFT systems, it said.

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