RBI releases discussion paper on charges on transactions via debit, credit cards, others
Talking about overall payment systems in India, RBI said, while there are many intermediaries in the payments transaction chain, consumer complaints are generally about high and non-transparent charges.
The Reserve Bank of India (RBI) on Wednesday released a discussion paper on payment systems for public opinion. The feedback can be provided on the questions raised in the paper by October 3, 2022. Charges on transactions through debit cards, credit cards, IMPS, NEFT, RTGS, PPIs, and UPI among others will be taken into consideration. RBI's initiatives in the payment systems have been to ease frictions that may arise from systemic, procedural, or revenue-related issues.