RBI seeks public feedback on charges in payment systems by Oct 3

Charges for payment services should be reasonable and competitively determined for users while also providing optimal revenue stream for the intermediaries, states the discussion paper

The Reserve Bank on Wednesday sought views from the public on fees and charges in payment systems, with an aim to make such transactions affordable as well as economically remunerative for the entities involved.

The payment systems include Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system and Unified Payments Interface (UPI). Debit cards, credit cards and Prepaid Payment Instruments (PPIs) are among the other payment instruments.

The focus of RBI's initiatives in the payment systems has been to ease frictions which may arise from systemic, procedural or revenue-related issues, the central bank said while