RTGS, which started on March 26, 2004 with a soft launch involving four banks, presently handles 6.35 lakh transactions daily for a value of Rs 4.17 lakh crore across 237 participant banks.
NEFT and IMPS are two widely used methods for fund transfer by the business. Here's a comparison between the two to help you better judge and choose which one is suited best for your business.
NEFT transactions will now be available 24x7. Come December 16 and you will be able to enjoy the facility round-the-clock. In a bid to promote digital transactions, Reserve Bank of India (RBI) has made transactions possible under the National Electronics Funds Transfer (NEFT) system on all days of the year, including holidays.
The State Bank of India (SBI), country's largest lender, has waived off the IMPS charge on fund transfer. Now, the IMPS charges will be free from August 1, 2019. SBI IMPS charges will be Nil for the users who want to transfer funds through YONO, internet banking and mobile banking.
Fund transfer through RTGS and NEFT systems is set to become cheaper from Monday after the Reserve Bank of India decided it will not impose any charges on such transactions.
The Reserve Bank of India Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1 and asked banks to pass on the benefits to customers from the same day.
Mumbai, Nov 28: Enforcement Directorate has issued notice to the BCCI to explain transfer and routing of funds to the tune of Rs 1,600 crore in the conduct of the second season of Indian Premier
Top News
Latest News
