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SBI reduces NEFT, RTGS charges up to 75% effective from July 15

Additionally, bank has also waived charges for fund transfer of upto Rs 1,000 done through IMPS

IANS  |  New Delhi 

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Logo of State Bank of India

After lowering the Immediate Payment Service (IMPS) charges, the of (SBI) on Thursday reduced charges for Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions upto 75 per cent effective July 15.

The reduced charges will be applicable on the transactions done through and offered by the bank, the said in an official statement here on Thursday.

Additionally, has also waived charges for of upto Rs 1,000 done through effective July 1, 2017.

"In sync with our strategy and complementing the focus of government of to create a digital economy, we have taken one more step to promote use of and mobile banking for doing and transactions by reduction of the charges," said Rajnish Kumar, Managing Director - NBG,

As on March 31, 2017, had 3.27 crore customers and nearly 2 crore mobile banking customers. 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.)

First Published: Thu, July 13 2017. 15:53 IST