9911796707
TMI BlogRemoval of charges on RTGS & NEFTX X X X Extracts X X X X X X X X Extracts X X X X ..... Removal of charges on RTGS & NEFT - News and Press Release Dated:- 3-7-2019 - News - The Reserve Bank of India (RBI) vide its circular on National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems Waiver of charges dated 11.06.2019, has decided that with effect from July1, 2019, processing charges and time varying charges levied on banks by RBI for outwa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd transactions undertaken using the RTGS system, as also the processing charges levied by RBI for transactions processed in NEFT system would be waived by the Reserve Bank. The banks are also advised by RBI to pass on the benefits to their customers for undertaking transactions using RTGS and NEFT systems. This waiver of processing and time varying charges by RBI on banks will re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... duce the cost of RTGS and NEFT transactions and will give fillip to digital fund movement. As per the RBI guidelines, beyond the permitted free ATM transactions, charges for customers for such transactions is capped at ₹ 20/- per transaction (plus service tax, if any). Within this cap, banks have been advised to decide the charges structure for ATM, as per their Board appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved policy. The details of free ATM transactions permitted for the customers are as follows: RBI has stipulated that basic banking services like deposit, minimum of four withdrawals in a month, including ATM withdrawals, receipt/credit of money through electronic payment channels are provided without any charges for Basic Savings Bank Deposit (BSBD) accounts, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... including accounts opened under Pradhan Mantri Jan Dhan Yojana (PMJDY). For accounts other than BSBD accounts, vide its Circular dated 14.08.2014 on Usage of ATMs - Rationalisation of number of free transactions , RBI has, inter- alia, provided the following free transactions: A minimum of 5 free ATM transactions at a bank s own ATM at all locations; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A minimum of 3 free transactions at any other bank s ATM at six metro locations viz. Mumbai, New Delhi, Chennai, Kolkatta, Bengaluru and Hyderabad; and A minimum of 5 free ATM transactions at any other bank s ATM at locations other than the 6 metro centres. This was stated by Smt. Nirmala Sitharaman, Union Minister of Finance Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Affairs in a written reply to a question in Rajya Sabha. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
