RTGS is meant for large-value instantaneous fund transfers, while NEFT is used for fund transfers of up to Rs 2 lakh.
The RBI reiterated that it would maintain an accommodative stance as long as necessary to revive economic growth.
P2P lending limit raised to Rs 50 lakh
Such PPIs can be issued on the basis of essential minimum details sourced from the customer.
The comments come a year after government tagged Bitcoins and other cryptocurrencies illegal and the RBI banned their trade.
The sharp decline in growth had many analysts assuming the Reserve Bank will deliver a rate cut on Thursday.
The central bank also revised GDP growth downwards to 5 per cent for 2019-20 from 6.1 per cent projected in its October policy.
The IHS Markit India Services Business Activity Index improved to 52.7 in November from 49.2 in October.
The economy is expanding well below the rate needed to generate enough jobs for the millions of young Indians.
Over 17 lakh shares of DHFL were traded on the NSE, while the BSE saw an exchange of 4.51 lakh shares.