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RBI to phase out high value clearing for Cheques drawn over 1 Lakh Rupees

High value clearing, the facility that enables depositors to encash cheques drawn for over Rs 1 lakh the next day, is set to be phased out. The Reserve Bank of India (RBI) has increased the minimum value for high value clearing to Rs 5 lakh from May. This will be increased further to Rs 10 […]...

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Posted Under: Fema / RBI | ,

RBI Caps E-Payment Charges

The Reserve Bank of India (RBI) has capped fees charged by banks for electronic payment (e-payment) and collection of outstation cheques. The move is aimed at popularising electronic payments and discouraging higher charges levied by banks on customers....

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Posted Under: Fema / RBI |

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