New Delhi, 6 June (KNN) The Confederation of All India Traders (CAIT) has welcomed the announcement of Reserve Bank of India (RBI) to abolish the bank charges on NEFT & RTGS.

CAIT Secretary General, Praveen Khandelwal said that it is a progressive step of RBI which would encourage more usage of digital payments by the business community. This move will benefit about 2.5 crore traders in the Country beside industry and other sectors.

He further said that in order to accomplish Digital India vision of Prime Minister Narendra Modi, the bank charges levied on payments through Debit Card or Credit Card should also be waived to encourage not only the traders but even common people to adopt, accept and use card payments freely in daily routine.

It will eliminate cash element in the Country to a greater level and will also put curb on parallel economy. Also he suggested that the government should subsidize bank charges on card payments directly to Banks.

Further the government should announce some sort of incentives also on adoption of digital payments so that more and more people adopt and accept digital payments.

And waive import duty on POS machines so that people can import same at a cheaper price.

The CAIT will soon submit a White Paper on Digital Payments to Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal.