State Bank of India on Thursday reportedly announced cut up to 75% in charges for the National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) effective from 15 July. SBI, in a statement, said the revised charges will be applicable on NEFT and RTGS transactions done through internet banking or mobile banking offered by the bank. The statement also reportedly said the bank had also waived charges for fund transfer of up to Rs 1,000 done through Immediate Payment Service (IMPS) effective July 1, 2017.
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