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Mumbai, Dec 04: In a bid to give a push to digital payments, the Reserve Bank on Friday announced a slew of measures including enhancing the limit for contactless card transactions to Rs 5,000 and making RTGS transaction facility available round the clock from December 14.
The RBI has also decided to grant licence to entities operating payments systems on a perpetual basis, and permitted companies to reapply for licence after one year of rejection of their application or revocation of their licence. These were part of the announcements made by RBI Governor Shaktikant Das earlier in the day after the meeting of the central bank’s rate setting panel — Monetary Policy Committee. Now the central bank…
