RBI frees NEFT and RTGS from charges it levied on them
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The Reserve Bank of India on Thursday freed the National Electronic Fund Transfer and Real Time Gross Settlement systems from charges it levied on them so as to give a force to digital funds movement. The central bank directed banks to pass on the benefits of the waiver to their customers, and instructions related to this will be issued within a week. Until now, Rs 2-10 were being levied on RTGS depending on the time.