This Site Content Administered by
-

RBI brings down transaction fee on debit card online transactions

Mumbai: July 4,2012

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.


The move is expected to boost e-commerce in India, Asia’s third-largest economy, where use of internet for purchase of goods and services is growing at 30-35% every year.


According to the Internet and Mobile Association of India (IAMAI), e-transactions in the country totalled Rs 46,000 crore in 2011.


PIB Mum/RBI

 
PIB Release/MH/119
MD --SB

Click here to download high quality photo

    Click here to download high quality photo

more photos ....
MEDIA UNITS

PIB MAIN SITE (DELHI)

DD NEWS

AIR NEWS

D A V P

R N I

D F F

GOVERNMENT LINKS

PRESIDENT

PRIME MINISTER

CENTRAL GOVERNMENT

MAHA. GOVERNMENT

MAHARASHTRA MEDIA

MEDIA LIST

NEWSPAPERS

TELEVISION MEDIA

MEDIA REGULATION

CABLE REGULATION

CONTENT CODE

ADVERTISING CODE

PROGRAMMING CODE

JOURNALIST CORNER

JOURNALISM BASICS

INDIAN SCHOOLS

INT.SCHOOLS

PIB LIBRARY

OTHER LINKS

INDIAN AIRLINES

INDIAN RAILWAYS

BUSES


This Site Content Administered by : Manish Desai, Director (M&C),
Press Information Bureau, Mumbai
Site is designed and hosted by National Informatics Centre (NIC)
Information is provided and updated by :Press Information Bureau