The Reserve Bank of India
is working on a plan to reduce online transaction costs as it tries to
encourage more digital banking, two parliamentary panel members quoted central
bank governor Urjit Patel as saying on Friday.
"We are working on a
mechanism to bring down transaction costs," one member of the public
accounts committee quoted Patel as saying. "We are speaking to all
stakeholders."
Patel met the panel to
answer questions about the Nov. 8 abolition of 500- and 1,000-rupees notes, or
86 percent of the currency then in circulation.
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