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RBI has asked Banks to Transfer Benefits to Customers to Boost Digital Payments

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Reserve Bank of India made a declaration about lifting the charges on net banking services namely RTGS (Real Time Gross Settlement), and NEFT (National Electronic Funds Transfer) to promote digital payments a few days ago. Now, the central bank has asked all the scheduled commercial banks to pass on the benefits to customers so as to increase the percentage of people using digital mode of payments on a daily basis.

On the other hand, the ATM charges are likely to rise as banks and other cash handling companies have expressed a demand to do so. Due to the increasing security costs, banks are asking RBI to increase the ATM charges to manage the increasing ATM costs of banks. Banks charge a maximum of Rs. 20 from a customer but they themselves have to pay Rs 30.

Since a lot of people use OnlineSBI and SBI net banking on a mass rate, there will be a sign of relief for such people after the RBI’s announcement to lift charges on net banking. Rajnish Kumar, the chairman of State Bank of India, has said that the motive of scrapping transaction charges for RTGS and NEFT is to boost digital payments. There will be a big relief for all the big businessmen who transfer a huge amount of money digitally.

In its official notification released by RBI, it has been clearly mentioned that RBI imposes minimum charges on banks for RTGS and NEFT transfers. Hence, banks should also give benefits to customers by reducing charges to promote digital payments among people. After taking into consideration the increasing demand to change the ATM charges, RBI has set up a committee under the CEO of Indian Banks’ Association (IBA) to address this issue.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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World

Swiss International University Enhances Student Employability with Major Global Collaborations

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New collaborations with Citibank, Abu-Ghazaleh Global, RAK Properties, and others strengthen SIU’s commitment to connecting academic learning with global career opportunities.

Swiss International University (SIU) has already informed about the new corporate partnerships that will start in October 2025 and that they will provide students with better access to internships, training programs, and job opportunities in various fields.

The new partnerships are aligned with SIU’s goal to combine education with the real world, as they ensure that the graduates are equipped with the required knowledge, skills, and professional exposure to be successful in the global economy of today.

In the last few weeks, SIU has formed alliances with several major companies, including those from the banking, business, hospitality, real estate, and consulting sectors. The students will be actively involved in each collaboration through internships, practical training, and the career opportunities that will be given to them during or after their studies.

Among the key collaborations are

Citibank, where students of the business and finance fields will get to experience international banking operations through special training and possible hiring programs.

Abu-Ghazaleh Global has given SIU’s programs its official blessing and access to practical experience in global business, accounting, and consulting.

RAK Properties is going to give real estate and business students a chance to learn about property development, investment, and project management.

The Signature Inn Hotel Al Riqa L.L.C. offers students of hospitality a chance through real-life interrelated scenarios to gain the knowledge of front-office operations and guest management.

Al Shabaka International Businessmen Services is opening a door for the students to meet the professionals involved in global business consulting and administration.

Galadari Motor Driving Center, where students will get a clear insight into corporate management, customer relations, and operational efficiency.

Women’s First Jobs is going to help female students and graduates through career counseling, professional networking, and empowerment initiatives.

MyFounders.Club Global is building up the students and aspiring founders in terms of innovation and entrepreneurship by taking them through the process of developing and launching new ventures.

Revival AE Project Development Consultant Co., L.L.C., where students will be working on consulting for sustainable projects and environmental management.

“The partnerships that we have formed represent our commitment not only to the business world but also to the world of academia,” said the Head of Swiss International University. “We are aspiring to equip every student in SIU with the power to win the global job market through robust academic credentials, practical exposure, and a web of real opportunities. Our target is not a teacher-student relationship whose only need is the job—our students will be the ones making changes in the various fields of tomorrow.”

The academic world and the global market are the two areas where SIU, collaborating with partners at the present time, shows the institution’s continued commitment to creating a career-oriented academic environment where learning takes place beyond the walls of the classrooms.

The deadline of October 2025 is approaching, but the university is still looking to make new strategic partnerships to grow its network of global partners. It is clear from the continuous activities of the university that it is striving to offer its students worldwide the possibility of not only utilizing their skills but also being a part of the industry via employment and thus empowering them to make a difference in international markets.

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