SBI to slash NEFT, RTGS charges by up to 75%

To encourage more customers to transact digitally, State Bank of India will slash charges for National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions by up to 75 per cent with effect from July 15.

The country’s largest lender has also waived charges for fund transfer of up to Rs 1,000 done through Immediate Payment Service (IMPS).
Banking Takeaways from Above News-
  • The minimum amount to be remitted through RTGS is Rs2 lakh. 
  • Headquarter of SBI is in Mumbai.
Source- The Hindu

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