No charges on NEFT, RTGS ; RBI turns accomadative – The Siasat Daily

The Reserve Bank of India 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.

You will no longer have to pay additional charges for transferring funds via RTGS, NEFT. In its recently conducted bi-monthly meet of the Monetary Policy Committee, the Reserve Bank of India has decided to remove all charges levied on Real Time Gross Settlement System (RTGS) and National Electronic Funds Transfer (NEFT) System.

Additionally, the RBI said that it has decided to do away with charges levied on Real-time gross settlement (RTGS) and National Electronic Funds Transfer (NEFT) transactions, banks will be required to pass this benefit to their customers.

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No charge for Remittance from SBI & other Associates. From other banks; Rs.0.70 per Rs.1000/- Upto Rs. 1 lakh – 0.28% of the amount, minimum of Rs 28/-Above Rs 1 lakh – 0.225% of the amount, minimum Rs. 280/- No Charge : State Bank of Indore: Rs. 1.50 per Rs.1000/- or part thereof min – Rs.250 Max – Rs. 1500 : Rs. 100/- per message

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 · To date, there are no rules concerning interconnection among mobile payment services.. In Mozambique, Carteira Móvel (a licensed e-money issuer, and subsidiary of mCel) offers a mobile wallet, MKesh, and Carteira Móvel will be permitted to access Mozambique’s [real time gross settlement systems].

 · The Reserve Bank of India stated that it will infuse Rs 15,000 crore into the financial system through bond purchases on Thursday. The cost for Fund transfers via RTGS, NEFT will be less from July 1. OPEC is near the deal to keep production curbs in place – UAE energy minister.

SBI RTGS & NEFT: Timings, Limit And Charges bank timings 0 State Bank of India ( ) is a Public Sector Bank and with recent merger and acquisition, the bank is the largest in the country.

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Subbarao on Friday held discussions with Finance Minister Pranab Mukherjee on the country’s macro-economic environment amidst hopes that the apex bank would let the accommodative. However, no.