Subsequently, following a comprehensive review of the business correspondent guidelines, we have relaxed this condition and banks are now allowed to recover reasonable charges from the customer for providing the service. Branchless banking illustrates an area where there have been progressive relaxations of the regulations for furthering penetration while ensuring consumer protection. Deregulation of interest rates for small loans 18.
It is also paramount that TPPs be authorised or registered as soon as possible, and comply with all legal requirements at an early stage. TPPs need to bear their share of the responsibility by testing and using the access interfaces in a prompt and cooperative fashion, and by contributing constructively to the ongoing efforts aimed at the standardisation of these interfaces.