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Money & Banking - RBI & Other Central Banks
States - Tamil Nadu
RBI's decision on funds transfer hailed

Our Correspondent

Madurai, May 8

The Tamil Nadu Chamber of Commerce and Industry has thanked the RBI for accepting the proposal of its study group to refrain from charging fee on transfer of funds through paper-based cheques and drafts. Describing it as a rightful decision, the Chamber in a statement here said that it had earlier strongly objected to banks charging heavy commissions for issue of demand drafts and chequebooks.

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