New Delhi:(Page3 News Network)-The Reserve Bank of India (RBI), as a move towards cash less economy, from time to time, has been facilitating the use of electronic payment products by issuing various Guidelines on Electronic Payment System such as Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) and National Electronic Clearing Services (NECS) in the country including in the smaller towns and villages. In addition, other payment systems such as mobile banking, prepaid payment instruments and mobile wallet also enable electronic payment facility. Banks have also been installing ATMs and Point of Sale (PoS) devices for promoting electronic payments. This was stated by the Finance Minister Shri P. Chidambaram in reply to a question in the Rajya Sabha.
