RBI launching a new monetary policy to make digital space more user-friendly. Usually, money transfer only is done via RTGS and NEFT. while you transferring money banks charge a certain amount of money in terms of charge.

According to report RBI has removed charges in case of money transfer and asked banks to provide these facilities towards the customers. Reserve bank levies minimum charges for transaction done via real-time Gross Settlement and the same policy is applicable for National Electronic Funds Transfer system.

All the required instructions to implement this system will be circulated towards several banks within a week.

After completing this procedure customers can easily enjoy this transaction facility. In this context, Mandar Agashe, Founder & Vice Chairman, Sarvatra Technologies Ltd told that this new implementation will be helpful for all but especially small traders will get the highest benefits of it. It can be considered as a great move for the welfare of the common masses and in terms of digitalization.