All. HC: Police Protection Ordered for a Man Involved in a Live-in Relationship With a Transwoman  ||  Del. HC: Donor/Recipient to be Informed Via WhatsApp/Email about Deficie. in Organ Transplant Docs.  ||  All. HC: Juris. While Dealing With S.34 App. Can’t be Disputed by Party Filing S.9 App. in One Court  ||  SC: Can’t Deny Permanent Status to Workmen Who Worked Without Interruption for 480 Days in 24 Months  ||  SC: Jharkhand CM Hemant Soren's Withdraws Petition Challenging His Arrest by ED  ||  Del. HC Quashes Order Upholding Arbitral Award Directing SpiceJet to Pay ?270 Cr. to Kalanithi Maran  ||  Ker. HC: Right of Accused to Seek Speedy Testing of Seized Drugs/Substances Under NDPS Rules, 2022  ||  P&H HC: Conviction of Wife for Killing Minor Son Amounts to Cruelty; Grant of Divorce Upheld  ||  Supreme Court: If the Presence of Litigant is Required, Courts Should Allow Them to Appear Virtually  ||  SC: PwD Allowed to Attend Interview if They Have Got Minimum Marks Prescribed For SC/ST Categories    

Furthering digital payments - Waiver of charges - National Electronic Funds Transfer (NEFT) system- (Reserve Bank of India) (16 Dec 2019)

MANU/RMIC/0160/2019

Banking

A reference is invited to RBI circulars DPSS CO (EPPD)/98/04.03.01/2012-13 dated July 13, 2012 on National Electronic Funds Transfer (NEFT) System - Rationalisation of customer charges and DPSS (CO) RPPD No.2557/04.03.01/2018-19 dated June 11, 2019 on National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems - Waiver of charges.

In order to give further impetus to digital retail payments, it has now been decided that member banks shall not levy any charges from their savings bank account holders for funds transfers done through NEFT system which are initiated online (viz. internet banking and/or mobile apps of the banks). This directive is issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007) and shall be effective from January 1, 2020.

Tags : DIGITAL PAYMENTS   WAIVER   CHARGES  

Share :        

Disclaimer | Copyright 2024 - All Rights Reserved