SBI waives RTGS, NEFT, IMPS charges for online fund transfers

SBI waives RTGS, NEFT, IMPS charges for online fund transfers

State Bank of India on Friday announced waiving charges on IMPS, NEFT and RTGS transactions through internet and mobile banking after the Reserve Bank of India decided to do so in a bid to move the country towards a less-cash economy. While the waiver of charges for NEFT, RTGS transaction for YONO, internet banking and mobile banking came to effect from July 1, IMPS charges will be waived on all these platforms from August 1. Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service.

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