30.3 C
Delhi
Wednesday, June 3, 2020

SBI waives charges on online transactions

- Advertisement -

SBI waives charges on online transactionsNew Delhi, July 12 (IANS) Lending major State Bank of India (SBI) on Friday said that it has waived charges on RTGS and NEFT transactions with effect from July 1.

In a statement, the bank also announced waiver of charges on IMPS (immediate payment service) effective from August 1.

“In order to provide an impetus to digital funds movement, State Bank of India (SBI), the largest commercial bank in the country has waived RTGS (Real Time Gross Settlement) and NEFT (National Electronics Funds Transfer System) charges for YONO (an integrated digital and lifestyle platform by SBI), internet banking (INB) and mobile banking (MB) customers from July 1, 2019,” it said.

The SBI used to charge between Rs 1-5 for transactions through NEFT, and Rs 5-50 for RTGS transactions before July 1.

The Reserve Bank of India (RBI) decided not to impose charges on RTGS and NEFT transactions on banks from July and also urged the banks to pass on the benefit to the customers.

Follow Us For Latest Updates -

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics

Covid 19 India Updates

IFTDA seeking relaxation in rule which barred 65-plus actors on set

Mumbai, June 3 (IANS) The Maharashtra government has allowed resumption of film shooting with a detailed, 16-page roster of guidelines. However, the Indian Film...

Trending Right Now

Govt approves Rs 50K crore equity infusion for MSMEs

New Delhi, Jun 2 (PTI) The Union Cabinet on Monday approved Rs 50,000 crore equity infusion for MSMEs to strengthen their growth potential.The government...