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SBI cuts down IMPS transaction fee by 80 percent
Posted on: 28/Oct/2017 12:39:07 PM
As a move to boost online payment and digital drive, transaction fee for IMPS is reduced by the SBI by almost 80 percent. This brings a huge relief to all customers. On Twitter, SBI has tweeted saying customers can go cashless with SBI with revision in IMPS service charges slashed by 80 percent.
One of the main strategies in offering excellent convenience to customers is digitalization and excellence in operations. This has caused reduction in turnaround time, thus benefiting customers.
Speaking about this, Rajnish Kumar, the Managing Director of NBG, SBI said they are focusing on the Government of India to set up a digital economy. One more initiative is taken to promote internet banking and mobile banking to make NEFT and RTGS transactions.
So, there will be no cost for IMPS transactions below Rs. 1000. For transactions between Rs 1000 and Rs 10,000, the charge will be Re. 1 and for transactions between Rs. 10,001 and Rs 1,00,000, the charge will be Rs. 2. For transactions between Rs. 1,00,000 and Rs. 2,00,000, the charge will be Rs. 3 per transaction. These rates have come to effect from October 15, 2017.
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