After NEFT, RTGS, SBI waives charges on IMPS transactions through internet and mobile banking from 1 August
5 years, 5 months ago

After NEFT, RTGS, SBI waives charges on IMPS transactions through internet and mobile banking from 1 August

Firstpost  

New Delhi: State Bank of India has waived charges on NEFT and RTGS transactions through the internet and mobile banking from 1 July, after the RBI decided to do away with the charges with an aim to move the country towards a less-cash economy. The country’s largest bank, which has about 25 percent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS from 1 August. “In order to provide an impetus to digital funds movement, SBI waived-off RTGS and NEFT charges for YONO, internet banking and mobile banking customers from 1 July, 2019. “In sync with our strategy and Government of India’s vision to create a digital economy, SBI has taken this step to promote use of YONO, internet banking and mobile banking for doing NEFT and RTGS transactions without incurring any cost,” the bank’s MD P K Gupta said.

Mobile Digital Mobile Banking Charges Customers 1 August Sbi Internet Banking Banking Transactions Yono Rtgs Imps 1 July Neft Fund Transfer  charges  digital  internet  imps  banking  transactions  rtgs  customers  waives  sbi  bank  neft  mobile

History of this topic

PNB Customers Alert! PNB Hikes MCLR Rates, NEFT, RTGS, Other Service Charges
2 years, 7 months ago

PNB Customers Alert! PNB Hikes MCLR Rates, NEFT, RTGS, Other Service Charges

News 18  

PNB Rules Change: Punjab National Bank has revised several of its banking and non banking charges. Here are the tenor-wise MCLR effective from June 1, 2022, as per the PNB website: Over night: Old rate — 6.60 per cent; New rate — 6.75 per cent One Month: Old rate — 6.65 per cent; New rate — 6.80 per cent Three …

SBI Customers ALERT! This Rule is Set to Change From Next Month; Details Here
2 years, 11 months ago

SBI Customers ALERT! This Rule is Set to Change From Next Month; Details Here

News 18  

SBI Rules Change: From next month, customers of India’s largest public sector lender, the State Bank of India, will not have to pay any service charges on on IMPS transactions up to Rs 5 lakh done digitally, that is though internet banking, mobile banking and YONO. SBI IMPS, NEFT, RTGS Rules Change: What Notification Says “In an aim to encourage …

SBI App YONO, Net Banking Services to be Unavailable During Weekend; Details Here
3 years, 7 months ago

SBI App YONO, Net Banking Services to be Unavailable During Weekend; Details Here

News 18  

State Bank of India said that its digital services will be affected due to technical upgradation of its NEFT systems after the closure of business on Saturday. The customers of India’s largest lender will not be able to use NEFT facility on SBI YONO and SBI YONO Lite between 00:01 am and 14:00 pm on Sunday. NEFT services on internet …

RTGS to Be Made Available 24X7 in Next Few Days, Says RBI Governor
4 years, 1 month ago

RTGS to Be Made Available 24X7 in Next Few Days, Says RBI Governor

News 18  

In a business friendly move, the Reserve Bank of India on Friday said that the Real Time Gross Settlement system, used for large value transactions, will be made available round-the-clock in the next few days. RBI Governor Shaktikanta Das said RTGS system will soon be made available 24×7 in the next few days… with this enablement, it is proposed to …

No charges on NEFT online money transfer from January
5 years, 2 months ago

No charges on NEFT online money transfer from January

Live Mint  

To promote digital transactions, the RBI has asked banks not to charge savings bank account customers for online transactions in the NEFT or National Electronic Funds Transfer system with effect from January 2020. During the same period, the National Electronic Funds Transfer and Unified Payments Interface systems handled 252 crore and 874 crore transactions with year on year growth of …

Good news for SBI customers! Bank waives charges on these online fund transfers
5 years, 5 months ago

Good news for SBI customers! Bank waives charges on these online fund transfers

India TV News  

If you have an account in the State Bank of India, there is good news for you. It has also decided to waive the charges applicable to IMPS transactions up to Rs 1,000 initiated through bank branches. The SBI has also decided to waive charges applicable on RTGS and NEFT transactions initiated through online banking and YONO routes. The SBI …

SBI IMPS charges on fund transfer waived off
5 years, 5 months ago

SBI IMPS charges on fund transfer waived off

India TV News  

The State Bank of India, country's largest lender, has waived off the IMPS charge on fund transfer. SBI IMPS charges will be Nil for the users who want to transfer funds through YONO, internet banking and mobile banking. Earlier, SBI had waived off the NEFT, RTGS transaction charges for the transfer of funds by the users effective July 1, 2019. …

Fund transfer via RTGS, NEFT set to get cheaper from Monday
5 years, 6 months ago

Fund transfer via RTGS, NEFT set to get cheaper from Monday

India TV News  

Fund transfer through RTGS and NEFT systems is set to become cheaper from Monday after the Reserve Bank of India decided it will not impose any charges on such transactions. After announcing its decision to waive all charges on fund transfer through RTGS and NEFT systems from July 1, the Reserve Bank of India had also asked banks to pass …

Fund transfers via RTGS, NEFT to cost less from July 1
5 years, 6 months ago

Fund transfers via RTGS, NEFT to cost less from July 1

India TV News  

The Reserve Bank of India Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1 and asked banks to pass on the benefits to customers from the same day. In order to provide an impetus to digital funds movement, the central bank further said it has been decided that with effect …

RBI removes charges on RTGS, NEFT transactions: Central bank's decision will give a much-needed boost to digital transactions
5 years, 7 months ago

RBI removes charges on RTGS, NEFT transactions: Central bank's decision will give a much-needed boost to digital transactions

Firstpost  

The Reserve Bank of India on Thursday said it would waive the fee currently imposed on banks for availing of its NEFT/RTGS payment servers. Its initiative could have a ripple, nay shaming, effect on: • Goods and services tax regime where the government always suspects that manufacturers and traders don’t pass on the full benefit of input tax credit to …

RBI monetary policy: Central bank removes charges on RTGS, NEFT transactions; asks banks to pass on benefits to customers
5 years, 7 months ago

RBI monetary policy: Central bank removes charges on RTGS, NEFT transactions; asks banks to pass on benefits to customers

Firstpost  

Mumbai: The Reserve Bank of India on Thursday said it has done away with charges on fund transfers through RTGS and NEFT routes to boost digital transactions and asked banks to pass on the benefits to customers. Country’s largest bank SBI charges between Re 1 and Rs 5 for transactions through NEFT and between Rs 5 and Rs 50 for …

RTGS, NEFT charges to come down, money transfer to get cheaper
5 years, 7 months ago

RTGS, NEFT charges to come down, money transfer to get cheaper

Live Mint  

New Delhi: The Reserve Bank of India has decided to eliminate levy on online payment modes -- Real Time Gross Settlement System and National Electronic Funds Transfer – a move that is expected to make such transactions cheaper. “In order to provide an impetus to digital funds movement, it has been decided to do away with the charges levied by …

ATM charge review to lower RTGS, NEFT fees for money transfer: Key RBI announcements
5 years, 7 months ago

ATM charge review to lower RTGS, NEFT fees for money transfer: Key RBI announcements

Live Mint  

The RBI will set up a committee to review the charges for usage of ATMs. Draft guidelines for on tap licensing of small finance banks will be issued soon while a forex trading platform for retail participants will be set up to make more transactions more transparent. Key RBI announcements today: 1) To promote digital transactions, the RBI has decided …

Discover Related