More banks can join electronic payment system

In a move to popularise electronic payment system, the Reserve Bank of India (RBI), on Monday, allowed all licensed banks, including urban co-operative banks, State co-operative banks and district central cooperative banks, to transfer funds through the centralised electronic payment system as sub-members. These banks would participate in the centralised payment systems, Real Time Gross Settlement System (RTGS), and the National Electronic Funds Transfer (NEFT), through their sponsor bank, which is a direct member of this system, the RBI said in a notification to all banks.......

Read - The Hindu