RBI removes NEFT, RTGS payment charges

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  • RBI has removed charges for payments via NEFT and RTGS.This means that payments via NEFT and RTGS would become either free or charges would be low.
  • RBI levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large- value instantaneous fund transfers and the National Electronic Funds Transfer System for other fund transfers.
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