Central Banking

RBI waives RTGS fees in bid to boost digital payments

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The Reserve Bank of India has waived the fees it previously charged banks for making use of its real-time gross settlement (RTGS) system and another major payment system, hoping to deliver a boost to digital banking.

The RBI confirmed the change on June 11 in a letter signed by general manager Sangeeta Lalwani, having previously revealed the plans at its monetary policy meeting earlier in June.

From July 1, processing fees and other “time-varying charges” levied on banks for outward

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