TIDBITS

Naidu panel urges RBI to cut card transaction charges

By IndianMandarins- 21 Dec 2016
502

naidu-panel-urges-rbi-to-cut-card-transaction-charges The high-profile committee of chief ministers led by Chandrababu Naidu tasked with finding ways of boosting digital payments has urged the Reserve Bank of India to slash card transaction charges to help wean Indians away from cash. The Niti Aayog has forwarded the proposal, mooted by committee member Nandan Nilekani, to the central bank. "The chief ministers' committee is in agreement that on account of the massive push towards a digital economy, financial transactions are moving from an era of low volume, high value to an era of high volume, low value," Niti Aayog CEO Amitabh Kant wrote in a note to RBI Governor Urjit Patel.

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