RBI seeks responses to its 40 Questions - Discussion Paper on Charges in Payment Systems

 

RBI seeks responses to its 40 Questions - Discussion Paper on Charges in Payment Systems

          Reserve Bank of India today has placed a ‘Discussion Paper on Charges in Payment Systems’, on its website.

          This is as per ‘Statement on Developmental and Regulatory Policies dated December 08, 2021, wherein RBI had informed that it will release a discussion paper on various charges levied by banks and institutions for all kinds of digital transactions through credit cards, debit cards, wallets and Unified Payments Interface (UPI).

          The feedback provided by the general public would be used to guide policies and intervention strategies for promoting Safe ePayments.

          The feedback need not be limited to the below questions, but may include other inputs and suggestions relevant to the topic under discussion.

Summary of Questions

Digital Transactions Channel 01) ____ RTGS --- 3 Questions (1 to 3)

Digital Transactions Channel 02) ____ NEFT --- 3 Questions (4 to 6)

Digital Transactions Channel 01) ____ IMPS --- 2 Questions (7 & 8)

Digital Transactions Channel 01) ____ Debit Cards --- 7 Questions (9 to 15)

Digital Transactions Channel 01) ____ Credit Cards --- 4 Questions (16 to 19)

Digital Transactions Channel 01) ____ PPIs (Pre-Paid Instruments) --- 4 Questions (20 to 23)

Digital Transactions Channel 01) ____ UPI --- 3 Questions (24 to 26)

Digital Transactions Channel 01) ____ Intermediaries --- 3 Questions (27 to 29)

Digital Transactions Channel 01) ____ Surcharging --- 3 Questions (30 to 32)

Digital Transactions Channel 01) ____ Convenience Fee --- 3 Questions (33 to 35)

Digital Transactions Channel 01) ____ Other Aspects --- 5 Questions (36 to 40)

 

          The complete 25 Pages Discussion Paper can be read @ https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/DPSSDISCUSSIONPAPER5E016622B2D3444A9F294D07234059AA.PDF

          The last date to submit your views to Reserve Bank of India on this discussion paper is: on or before October 3, 2022.

          The email id to submit your views is: dpssfeedback@rbi.org.in

          Views need not be shared via the physical mode, a soft copy of your views to the above email id is sufficient.  

          So, go ahead and provide your feedback.

Feedback which may be useful to shape future policies on Safe ePayments in our country.

Feedback which if successfully implemented in India, can be a benchmark for other nations.

The more feedback received by Reserve Bank of India, the more it will be helpful for overall customer experience.

Disclaimer: These are my personal views only. The bottom line is Safe ePayments. Nothing More – Nothing Less.

 

NEFT Network Banks – 99 now.

NEFT Network Banks – 99 now.
NEFT is for a major break-through. As on July 13th, 2010, 99 Banks were on the NEFT Network.
Just 1 short of 100. And, I am sure that the number 100 will be crossed by this month end only.

The List of Banks on NEFT network is as under:-
The next step I am looking is the crossing of 75,000 + branches.
This step should be scaled by this year end, or even earlier.

One most significant factor to be noticed is that more and more Co-operative Sector Banks are joining the NEFT bandwagon.

Almost all the Mumbai based co-operative banks are part of the NEFT network now.

Co-operative banks have few branches, but as a large number of local prefer additional accounts, these banks have an important role to play in the rapid acceleration of ePayments



Sr. No. Bank Name No. of branches as on July 13, 2010
1. ABHYUDAYA COOP BANK - NEFT Participant Bank 88
2. ABU DHABI COMMERCIAL BANK - NEFT Participant Bank 2
3. AHMEDABAD MERC COOP BANK - NEFT Participant Bank 22
4. ALLAHABAD BANK - NEFT Participant Bank 1009
5. ANDHRA BANK - NEFT Participant Bank 1558
6. AXIS BANK - NEFT Participant Bank 1007
7. B N PARIBAS BANK - NEFT Participant Bank 8
8. BANK OF AMERICA - NEFT Participant Bank 5
9. BANK OF BAHREIN & KUWAIT - NEFT Participant Bank 1
10. BANK OF BARODA - NEFT Participant Bank 3099
11. BANK OF CEYLON - NEFT Participant Bank 1
12. BANK OF INDIA - NEFT Participant Bank 3214
13. BANK OF MAHARASHTRA - NEFT Participant Bank 1456
14. BANK OF NOVA SCOTIA - NEFT Participant Bank 5
15. BANK OF RAJASTHAN - NEFT Participant Bank 463
16 BANK OF TOKYO-MITSUBISHI - NEFT Participant Bank 3
17. BARCLAYS BANK - NEFT Participant Bank 1
18. BASSEIN CATHOLIC CO-OP BANK* - NEFT Participant Bank 27
19. BHARAT COOPERATIVE BANK - NEFT Participant Bank 34
20. CREDIT AGRICOLE CORPORATE AND INVESTEMENT BANK 6
21. CANARA BANK - NEFT Participant Bank 3120
22. CATHOLIC SYRIAN BANK - NEFT Participant Bank 362
23. CENTRAL BANK OF INDIA - NEFT Participant Bank 2599
24. CHINATRUST COMMERCIAL BANK - NEFT Participant Bank 1
25. CITI BANK - NEFT Participant Bank 42
26. CITIZEN CREDIT COOP BANK - NEFT Participant Bank 28
27. CITY UNION BANK - NEFT Participant Bank 224
28. CORPORATION BANK - NEFT Participant Bank 1139
29. COSMOS CO-OP. BANK - NEFT Participant Bank 101
30. DENA BANK - NEFT Participant Bank 1133
31. DEUTSCHE BANK - NEFT Participant Bank 16
32. DEVELOPMENT BANK OF SINGAPORE - NEFT Participant Bank 6
33. DEVELOPMENT CREDIT BANK - NEFT Participant Bank 84
34. DHANALAKSHMI BANK - NEFT Participant Bank 271
35. DICGC - NEFT Participant Bank 1
36. DOMBIVLI NAGARI SAHAKARI BANK LTD - NEFT Participant Bank 29
37. FEDERAL BANK - NEFT Participant Bank 679
38. GREATER BOMBAY CO-OP. BANK LTD - NEFT Participant Bank 18
39. HDFC BANK LTD. - NEFT Participant Bank 1741
40. HONG KONG & SHANGHAI BANK - NEFT Participant Bank 51
41. ICICI BANK LTD. - NEFT Participant Bank 1821
42. IDBI BANK - NEFT Participant Bank 777
43. INDIAN BANK - NEFT Participant Bank 1710
44. INDIAN OVERSEAS BANK - NEFT Participant Bank 2012
45. INDUS-IND BANK - NEFT Participant Bank 215
46. ING VYSYA BANK - NEFT Participant Bank 503
47. JAMMU & KASHMIR BANK - NEFT Participant Bank 388
48. JANKALYAN SHAKARI BANK - NEFT Participant Bank 26
49. JP MORGAN CHASE BANK - NEFT Participant Bank 1
50. KALUPUR COMM COOP BANK - NEFT Participant Bank 36
51. KALYAN JANATA SAHAKARI BANK - NEFT Participant Bank 16
52. KAPOLE BANK - NEFT Participant Bank 1
53. KARNATAKA BANK - NEFT Participant Bank 476
54. KARNATAKA STATE COOP APEX BANK - NEFT Participant Bank 1
55. KARUR VYSYA BANK - NEFT Participant Bank 365
56. KOTAK MAHINDRA BANK - NEFT Participant Bank 259
57. LAKSHMI VILAS BANK - NEFT Participant Bank 293
58. MAHANAGAR COOP BANK - NEFT Participant Bank 28
59. MASHREQ BANK - NEFT Participant Bank 1
60. MEHSANA URBAN COOPERATIVE BANK LTD - NEFT Participant Bank 25
61. MIZUHO CORPORATE BANK LTD - NEFT Participant Bank 1
62. MSCB - NEFT Participant Bank 35
63. NAINITAL BANK LTD - NEFT Participant Bank 101
64. NEW INDIA CO-OPERATIVE BANK - NEFT Participant Bank 19
65. NKGSB BANK - NEFT Participant Bank 38
66. NUTAN NAGARIK SAHAKARI BANK - NEFT Participant Bank 20
67. OMAN INTERNATIONAL BANK - NEFT Participant Bank 1
68. ORIENTAL BANK OF COMMERCE - NEFT Participant Bank 1570
69. PARSIK JANATA SAHAKARI BANK - NEFT Participant Bank 25
70. PUNJAB AND MAHARASHTRA BANK COOP LTD - NEFT Participant Bank 34
71. PUNJAB AND SIND BANK - NEFT Participant Bank 371
72. PUNJAB NATIONAL BANK - NEFT Participant Bank 4855
73. RATNAKAR BANK - NEFT Participant Bank 88
74. RESERVE BANK OF INDIA - NEFT Participant Bank 4
75. SARASWAT CO-OPERATIVE BANK - NEFT Participant Bank 216
76. SHAMRAO VITHAL COOP BANK - NEFT Participant Bank 90
77. SHINHAN BANK - NEFT Participant Bank 2
78. SOCIETE GENERALE - NEFT Participant Bank 2
79. SOUTH INDIAN BANK - NEFT Participant Bank 581
80. STANDARD CHARTERED BANK - NEFT Participant Bank 95
81. STATE BANK OF BIKANER AND JAIPUR - NEFT Participant Bank 866
82. STATE BANK OF HYDERABAD - NEFT Participant Bank 1206
83. STATE BANK OF INDIA - NEFT Participant Bank 13090
84. STATE BANK OF INDORE - NEFT Participant Bank 480
85. STATE BANK OF MAURITIUS - NEFT Participant Bank 1
86. STATE BANK OF MYSORE - NEFT Participant Bank 689
87. STATE BANK OF PATIALA - NEFT Participant Bank 869
88. STATE BANK OF TRAVANCORE - NEFT Participant Bank 751
89. SURAT PEOPLE’S CO-OP BANK** - NEFT Participant Bank 23
90. SYNDICATE BANK - NEFT Participant Bank 2362
91. TAMILDADU STATE APEX COOP BANK - NEFT Participant Bank 1
92. TAMILNADU MERC. BANK - NEFT Participant Bank 218
93. THANE JANATA SAHAKARI BANK - NEFT Participant Bank 54
94. THE ROYAL BANK OF SCOTLAND - NEFT Participant Bank 31
95. UCO BANK - NEFT Participant Bank 2153
96. UNION BANK OF INDIA - NEFT Participant Bank 2895
97. UNITED BANK OF INDIA - NEFT Participant Bank 1556
98. VIJAYA BANK - NEFT Participant Bank 1244
99. YES BANK - NEFT Participant Bank 150
Total 69395