Thursday, November 24, 2016

Transaction Charges waived off till 31st December 2016 on RuPay cards

Yesterday RBI announced waving off of RuPay Credit and Debit cards transaction charges. This step was required to remove conflict of interest with bank disbursing money because they were not disbursing cash to promote electronic transactions on which they get commission. I don't know if this decision apply to VISA, MasterCard and American Express cards also. This decision should be enforced on all banks and cards.

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