Mumbai: In line with the Reserve Bank of India's (RBI) directions, State Bank of India has waived charges on NEFT and RTGS transactions through internet and mobile banking from July 1.
SBI has also decided to do away with the charges on fund transfer through mobiles using the IMPS (immediate payment service) from August 1.
"In order to provide an impetus to digital funds movement, State Bank of India (SBI), the largest commercial bank in the country waived off RTGS and NEFT charges for YONO, internet banking (INB) and mobile banking (MB) customers from July 1, 2019. The bank will also waive-off IMPS charges for its INB, MB and YONO customers effective from August 1, 2019," SBI said in a release. Additionally, bank has already reduced NEFT and RTGS charges for customers transacting through branch network by 20 per cent across all slabs.
