With RBI intervention, SBI waives NEFT and RTGS charges

State Bank of India on Friday announced waiving charges on IMPS, NEFT and RTGS transactions through internet and mobile banking after the Reserve Bank of India decided to do so in a bid to move the country towards a less-cash economy.

No transaction charges for RTGS & NEFT: RBI

In an effort to boost digital payments, the Reserve Bank of India (RBI) on Thursday scrapped charges levied on Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) transactions.