Make NEFT free, RBI tells banks

Mumbai: Come January, customers may not have to pay any charges for transactions done through the popular NEFT system.

Mumbai: Come January, customers may not have to pay any charges for transactions done through the popular NEFT system. A proposal in this regard has been mooted by the RBI to give impetus to digital transactions on the third anniversary of demonetisation. The central bank has also proposed that FASTags would be enabled to pay for parking fee and even at fuel stations. Digital payments constituted a high 96% of total non-cash retail payments during the October 2018 to September 2019. pti

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