In as much as the idea is good. But i think the charges are way too high. For a business transaction of 10m just imagine 50k will be cut from it. That way too ridiculous.

People will start keep cash. If you are buy a car of 10m the car dealer will include 50k to the 10m or otherwise ask for cash.

Back in those days we use cash to buy car. But today its done electronically. And with this policy will might find ourselves cash crushed. Like last year. As everyone is storing cash and needed cash than transfer.

There should be a fix cyber security like 5h for any transaction above 100k, 1k for any transactions above 200k and 2k for any transactions above 2m.

This policy will crumble some banks. And its ill though out policy.