The charges are aimed at encouraging customers to use digital channels. Electronic transactions initiated at the branch level will continue to attract the old rates.
For instance, a customer who initiates a real time gross settlement (RTGS) of over Rs 2 lakh in a branch will have to pay Rs 25 (excluding goods and services tax) at the branch. As against this an online transfer will cost Rs 5.
The move comes a month after SBI rolled out new requirements for average monthly balances in its savings accounts, failing which penalties would be imposed.Read more ↓
IMPS is the platform used for peer-to-peer payments on mobile phones and internet banking.