LocalCircles Impact: RBI mandates no charges for NEFT and RTGS

Most of you know that since demonetisation, LocalCircles has been actively sensitising various arms of the Government on various transaction charges consumers and businesses are faced with. We are pleased to share that today RBI has mandated that no bank can charge for NEFT and RTGS. Thanks to your active participation. This is a good move and we appreciate it.

However, we will continue to sensitize the Government and RBI on the need for banks to lower MDR rates. The MDR in turn is passed by many traders and retailers to consumer and is a big impediment to Digital India and success of Digital Payments. Kindly share your most recnet experiences in the last six months in regards to why you couldnt pay digitally.

We will then conduct follow on discussions and polls if needed and work with Government stakeholders to fix whatever possible.

We look forward to your inputs! more  

View all 282 comments Below 282 comments
Dear Sir,
Pls.guide me,how to put the petition for further action in local circles.
Thanks and regards. more  
There should be no charges for any digital transaction from bank side as they are already reaping the benefit of Digitilization in from of reduced employee & infrastructure costs more  
Wanted to pay property tax online but the charges were more than incentive. more  
I really look forward for digital payment. But my reason is somewhat funny. My mobile got stolen (2 times) which forced me to continue with old mobile. Police department was unable to trace it. In old mobile I cannot install any application and it does not support 4G. more  
With the increase in the number of transactions, the waiver of charges is a welcome move. more  
Post a Comment

Related Posts

    • Misleading and Surrogate Advertising

      Attached ad of Rafael Pan Masala being shown. It is ridiculous that these pan masala people are still being allowed to advertise. They say ad is for pan masala but then when consumer is attracted t...

      By Anushka Singh

      Lot of experts have given their views about the stand-off with China, that China is a bully, China is expansionist, China is mean and authoritarian. I feel that the current stand-off at...

    • Covid-19 spreads to social networks of 31pct Indians

      Most of you have regularly been participating in LocalCircles surveys on lockdown, containing spread of COVID-19. With your inputs, we have constantly been escalating the collective circle pulse to...

      By LocalCircles Manager
    • Aadhar Card Address requirement

      I would like to bring to notice an anomaly in list of valid documents to be submitted by an individual for address change in the Aadhar. One of the valid documents required for change in...

      By Kewal Bhatnagar
    • Unlock 3 guidelines no multiplex and metro

      The Govt has listened to us circle people and kept the multiplex and metro shut but they have permitted gyms to open. Wonder why. Babus LocalCircles must keep raising these issues and s...

      By Sarita Ravichandran
    • Worrying Covid Situation - must outline to Govt

      Everyone, India took 109 days to reach the first one lakh cases (Jan 30 to 18 May), Then it took 49 days to reach (18 May to 6 Jul) to add another 6 lakh cases with the above. For next 6 lakh ...

      By Sarita Ravichandran
    • Screen Time Limit for Online School Classes

      Last week, Ministry of Human Resources came out with screen time limits for online classes as children across the country connect with their classes online. Many parents in the circles had opposed ...

      By LocalCircles Manager
    • Containment Standards needed

      BBMP sealing done in one of the buildings for a confirmed Covid case in Bangalore. Lady with 2 small children, next door neighbours are an aged couple. What if there is a fire ? Understand the need...

      By Shirisha Kumar
    • LocalCircles Impact: Govt moves against COVID-19 drug Remdesivir black marketeers

      Some of you are familiar with the recent complaints raised in circles about COVID-19 drug Remdesivir selling 4-10 times above MRP. We are pleased to share with you that after LocalCircles escalatin...

      By LocalCircles Manager
    • Consumers can now come together as a class: LocalCircles Impact

      Many of you have been sharing feedback about various consumer issues over the last 2-3 years in different circles and LocalCircles has been aggregating the feedback and sharing with the Government....

      By LocalCircles Manager
    • India's handling of COVID 19 - can we rate objectively

      51% citizens in this localcircles poll below are saying India's handling of COVID-19 was effective. Can people of these communities please give some reasoning also. We have gone from 15t...

      By Maryam Ahmed
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)