I would like to urge upon the bankers present here to initiate appropriate measures to stimulate greater usage of this payment medium and thereby, improve their share in this regard.
In order to popularise the e-payments in the country, the RBI, on its part, has waived the service charges to be levied on the member banks, till March 31, 2009, in respect of the RTGS and NEFT transactions. The RBI also provides, free of charge, intra-day liquidity to the banks for the RTGS transactions.