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RBI waives off charges on NEFT & RTGS. Cooperative banks go digital.
Waiving Off: RBI is set to remove charges on bank transfers carried out either through National Electronic Funds Transfer (NEFT) or Real Time Gross Settlement System (RTGS), in an attempt to boost digital transactions in the country.
The Central Bank also announced that it is setting up a panel to review charges imposed by banks on ATM withdrawals.
The announcements were made at the end of the RBI's bi-monthly monetary policy meeting.
Staying Relevant: In a bid to stay relevant in the fast changing times, cooperative banks are fast turning to technology, providing a business opportunity for leading information technology service providers.