Allahabad HC Grants Bail to AMU Professor Accused of Linking Rape to Hindu Scriptures  ||  Supreme Court Vacates Stay on Telangana HC Order Quashing Nomination of 2 MLCs  ||  Supreme Court: Place of Exclusive Jurisdiction Deemed as 'Seat' of Arbitration  ||  Allahabad HC: NCMEI Has Exclusive Power to Grant Minority Status  ||  P&H HC: Default Bail Can Be Granted by Magistrate/Sessions Court Even If Bail Plea Pending Before HC  ||  Allahabad HC Grants Anticipatory Bail to AMU Professor Over Alleged Rape  ||  All HC: Don't Remand Accused to Custody If Chargesheet Filed Sans Arrest  ||  HP High Court: Trial Court Can’t Dictate Investigation Manner, If Remand Purpose Is Clear  ||  Supreme Court: Non-Signatories Have No Right to Attend Arbitration Proceedings  ||  Supreme Court: 'Gender-Neutral' Often Misunderstood As 'Gender Equality'    

Reserve Bank of India releases Discussion Paper on Charges in Payment Systems- (Reserve Bank of India) (17 Aug 2022)

MANU/RPRL/0364/2022

Banking

1. As announced in the Statement on Developmental and Regulatory Policies dated December 08, 2021, the Reserve Bank of India (RBI) has today released a discussion paper on "Charges in Payment Systems" for public feedback. Feedback may be provided in respect of questions raised therein, including other relevant suggestions, through email on or before October 3, 2022.

2. The focus of RBI's initiatives in the payment systems has been to ease frictions which may arise from systemic, procedural or revenue related issues. While there are many intermediaries in the payments transaction chain, consumer complaints are generally about high and non-transparent charges. Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries. To ensure this balance, it was considered useful to carry out a comprehensive review of the various charges levied in the payment systems by highlighting different dimensions and seeking stakeholder feedback.

3. The discussion paper covers all aspects relating to charges in payment systems [such as Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system and Unified Payments Interface (UPI)] and various payment instruments [such as debit cards, credit cards and Prepaid Payment Instruments (PPIs)], etc. The feedback received would be used to guide policies and intervention strategies.

Tags : DISCUSSION PAPER   CHARGES   PAYMENT SYSTEMS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved