ALSO READAxis Bank bets on Aadhar, mobile apps to expand digital transactions Five associate banks to merge with SBI from April 1 Despite digital push, 90% Indians still prefer branches over online banking SBI to begin FY18 as banking behemoth SBI hits overseas debt market with $500-mn 5-year bond sale
After lowering the Immediate Payment Service (IMPS) charges, the State Bank of India (SBI) on Thursday reduced charges for National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions upto 75 per cent effective July 15.
"In sync with our strategy and complementing the focus of government of India to create a digital economy, we have taken one more step to promote use of internet banking and mobile banking for doing NEFT and RTGS transactions by reduction of the charges," said Rajnish Kumar, Managing Director - NBG, SBI.
Along with customer convenience, this initiative will attract more customers towards transacting digitally.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)