The Reserve Bank of India on Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1.
The committee has also recommended revision of loan limit sanctioned under MUDRA.
Mumbai: The Reserve Bank of India on Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1 and asked banks to pass on the benefits to customers from the same day.
The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers of up to Rs 2 lakh.
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