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RBI removes NEFT

Center is eyeing RBI reserves to fund ‘electoral lollipops’. Krishnan

RBI has removed charges for payments via NEFT and RTGS and questioned banks to pass on the benefits to customers. This means that payments via NEFT and RTGS would become either free or charges would be drastically decreased. This was announced in the Statement on Developmental and Regulatory Policies, which was released today by the …