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Revision in IMPS charges on SBI
Posted on: 08/Aug/2017 1:36:23 PM
For all sorts of small ticket banking transactions done via IMPS facility, the State Bank of India has decided to scrap fee. This is especially for all smartphone users who use SBI Anywhere Personal app. As the fee for IMPS, NEFT or RTGS transactions are likely to get higher, SBI customers may repel from the banking services and look for several other avenues that allows cheaper transactions.
Earlier, the bank had said this decision is a push to promote small size transactions. As a move to promote small ticket size transactions, the IMPS charges towards transactions made up to Rs 1000 are withdrawn, the bank’s twitter feed reads.
For IMPS transactions between Rs 1,000 and Rs 100,000, the charge will be Rs 5 with extra GST. For transactions between Rs 100,000 and Rs 200,000, the charge is Rs 15 with extra GST.
