RTGS and NEFT transaction charges to drop with RBI removing their fees

Smh

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so this will only reduce charges ? as RBI won't take their cut but banks will still charge to cover cost of providing online service.
 

Sushubh

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The central bank asked consumer banks to pass on this benefit to customers, essentially asking banks to NEFT and RTGS transfers free of cost.
Unclear 🤔
 


Smh

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yes that mentioned in first article too

they should work more on fraud protection
 

Navjot Singh

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SBI waives RTGS, NEFT, IMPS charges

State Bank of India has waived charges on NEFT and RTGS transactions through internet and mobile banking from July 1, after the RBI decided to do away with the charges with an aim to move the country towards less-cash economy.

The country’s largest bank, which has about 25 per cent market share, has also decided to do away with the charges on fund transfer through mobile phones using the IMPS (immediate payment service) from August 1.
 


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