RBI to streamline charges for a safer, more affordable payments system

The central bank had released a discussion paper in August that outlined existing rules for charges, while presenting other options through which these could be levied

The Reserve Bank of India (RBI) is aiming to streamline the framework of charges for different payment systems to ensure that the country has a state-of-the-art payment system, which is not only safe and secure but also swift and affordable.

The central bank had, in August, released a discussion paper that outlined existing rules for charges in payment systems, while also presenting other options through which such charges could be levied.

Based on the feedback received from the stakeholders, the central bank has said that it will structure its policies and streamline the framework of charges for different payment services