The Reserve Bank of India has allowed all licenced banks to participate in the centralised electronic payment systems. In a notification issued in Mumbai yesterday, the RBI announced its decision to expand the sub-membership route to enable regional rural banks, RRBs and co-operative banks to participate in the national electronic funds transfer – NEFT system and real time gross settlement system – RTGS.The RBI said this decision has been taken to popularise electronic transfer of funds. At present, the centralised payment systems can be accessed only by members that include public and private sector banks.The centralized payment systems, NEFT is an electronic transfer of funds meant for retail customers while RTGS system facilitates high-value transfer of money with threshold limit of 2 lakh rupees.