Cut in debit, credit card charges mooted

Pune, Jan 3: Bankers in India are reported to have suggested the need to lower charges on transactions done through credit and debit cards, according to informed sources. The suggestion was made to give a boost to cashless transactions in India. Top Indian bankers are in Pune to discuss and develop a blueprint for reforms in the banking sector, the sources said. According to Reserve Bank (RBI) the number of point-of-sale (POS) terminals has increased to 10.65 lakh across India by end-March 2014 in comparison to 3.2 lakh in 2007.