The National Payments Corporation of India (NPCI) on January 13, 2025, issued a notification regarding the implementation of the revised fee structure of the NRP & PRD process.
The following has been stated: -
•NPCI has revised the fee structure for the NRP and PRD processes effective January 01, 2025. The NRP processing fee is now Rs. 500 + GST per arbitration, while the PRD processing fee is Rs. 3,000 + GST per arbitration.
•This change aims to address issues with arbitration raised without due diligence by banks.
•Member banks are advised to adjust their chargeback processes accordingly.
The detailed notification is given in the document below.
[Notification No. NPCI/NFS/OC424/2024-25]
