https://www.taxtmi.com/article/detailed?id=8191 Banks' imposition of fees for routine net banking services, especially OTP charges and transfer processing, disproportionately burdens senior citizens, low income and basic savings account holders and threatens adoption of cashless payments. The author urges that OTP delivery be treated as part of a Mandatory SMS service free of charge for vulnerable account types and calls for regulatory advisory and supervisory action to require exemptions and ensure banks' fee policies support financial inclusion and a cashless transition. en-us Sat, 06 Oct 2018 07:44:33 +0530 Sat, 06 Oct 2018 07:44:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8191 Banks' imposition of fees for routine net banking services, especially OTP charges and transfer processing, disproportionately burdens senior citizens, low income and basic savings account holders and threatens adoption of cashless payments. The author urges that OTP delivery be treated as part of a Mandatory SMS service free of charge for vulnerable account types and calls for regulatory advisory and supervisory action to require exemptions and ensure banks' fee policies support financial inclusion and a cashless transition. Articles Other Topics Sat, 06 Oct 2018 07:44:33 +0530 https://www.taxtmi.com/article/detailed?id=8191