New Delhi, July 13: The State Bank of India (SBI) reduced charges for National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions upto 75 per cent effective July 15.
Earlier, Immediate Payment Service (IMPS) charges were reduced on the transaction upto Rs 1,000 effective July 1, 2017.
Bank said reduced charges will be applicable on internet banking and mobile banking transactions offered by the bank.
“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.
As on March 31, 2017, SBI had 3.27 crore Internet Banking customers and nearly 2 crore mobile banking customers.
This scheme will attract more customers towards bank.