SBI IMPS, NEFT, RTGS Rules Change: State Bank of India undergoing changes in its operations regarding online transactions including IMPS, IMF, NEFT and RTGS. Ready for The country’s largest lender has increased its IMPS (Instant Payment Service) transaction limit. Under this, SBI account holders can transact up to Rs 5 lakh instead of Rs 2 lakh.
The bank has been informed about the details earlier this month. In a recent statement, the public sector bank also stated that it would not impose any service charges on IMPS transactions of up to Rs 500,000 made digitally, including internet banking, mobile banking and YONO. ۔
In a press release issued on January 4, SPI said that in order to encourage consumers to adopt digital banking, SBI has launched IMPS transactions of up to Rs 500,000 through internet banking / mobile banking including Uno. No service charges up to Rs. In the case of branch channels, the existing syllabus does not change the service charges of IMPS made through the branch channel.
However, the bank added that a new slab has been added for Rs.2,00,000 to Rs.5,00,000 and the proposed service charges for this slab is Rs.20 + GST from 01.02.2022. Service charges on IMPS are commensurate with service charges on NEFT / RTGS transactions. The new charges are set to take effect on February 1 this year.
No service charge or GST will be levied on any IMPS transaction up to Rs 5 lakh through internet or mobile banking. This includes transactions through the YONO app.
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