Similarly, the limits set for ECS and EFT / NEFT transactions were also dispensed with in November 2004 with a view to expanding the user base. This, of course, is apart from various measures taken by the RBI for strengthening the payment systems infrastructure in a variety of ways.
Although the share of electronic payment products is improving in the overall retail segment, the share of public sector banks in this area is very low even as the number of branches offering the electronic payment facility is increasing. It is, therefore, necessary to make these products available across all bank branches.