The Reserve Bank of
India has reduced transaction charges for payments made online through
debit cards to a maximum of 1%.
From July 1, transaction fee for online payments up to Rs. 2,000 made
through debit cards has been slashed to 0.75% of the value of the goods
or services bought. The charge can be a maximum of 1% for purchases
above that value. Banks were earlier charging 1.8% of all online
payments made using debit cards.