Good News! RBI scraps RTGS, NEFT charges for online fund transfers

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Good News! RBI scraps RTGS, NEFT charges for online fund transfers

Reserve Bank of India levies minimum charges on banks for transactions routed through its RTGS and NEFT.

https://www.financialexpress.com/money/good-new...

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No charges on RTGS, NEFT online transactions; RBI to issue notification soon

The RBI decision to make RTGS and NEFT free from charges will benefit lakhs of users who conduct online transaction.

https://zeenews.india.com/personal-finance/no-c...

14 Comments  |  
9 Dimers
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Deal Subedar
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Will That Effect Banks And In Return If They Start Charging Customers In Some Other Way? unamused

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M.MAHI wrote:

Will That Effect Banks And In Return If They Start Charging Customers In Some Other Way? unamused

Simple, this is to make UPI chargeable. RTGS to samajh aata hai ki businessmen use karte hain, NEFT koi nahin karta aajkal. Isi bahaane UPI charge lag jayega.

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Entertainer
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Waah! Kaisi dayawaan ban rahi hai RBI imp
Bas nahin chalta in sab commissionkhoron ka warna bank mein entry ka bhi 10₹ lagaa dein

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saucap wrote:

Waah! Kaisi dayawaan ban rahi hai RBI imp
Bas nahin chalta in sab commissionkhoron ka warna bank mein entry ka bhi 10₹ lagaa dein

there was a rumour last year that even for cheque deposits, every passbook update entry they will charge money but later they said its fake news… sunglasses

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marketdimer wrote:

Simple, this is to make UPI chargeable. RTGS to samajh aata hai ki businessmen use karte hain, NEFT koi nahin karta aajkal. Isi bahaane UPI charge lag jayega.

aur IMPS pe bhi charge increase kar sakte hai kiya????

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Entertainer
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desiman wrote:

there was a rumour last year that even for cheque deposits, every passbook update entry they will charge money but later they said its fake news… sunglasses

Beyond limits cheque deposit is chargeable, beyond limits passbook entry is chargeable.

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Deal Subedar
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Good move but if they charge for upi that should be bad for all

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marketdimer wrote:

Beyond limits cheque deposit is chargeable, beyond limits passbook entry is chargeable.

flushed beyond limit passbook entry chargeable – yeh kiya hai bhai aur how much charges???
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desiman wrote:
flushed beyond limit passbook entry chargeable – yeh kiya hai bhai aur how much charges???

Depends upon bank. Some charge for new passbook, 50 rs or 100 depending upon pages and some which doesn’t have machines, charge for 6th page onwards for manual entries.

As for cheque, most banks have limited transaction number for branch banking and cheque deposit will count as branch banking and will be charged beyond limit. Or else open a current account. wink

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Deal Subedar
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Union Bank Of India Charges For New Passbook Also 138+ GST confused

And I Guess They Are Planning To Make UPI Chargeable Waise Bhi Ab Paytm UPI Nhi Ate laughing

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Deal Cadet
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RBI and government want to push cashless drive. They may add / increase charges on cash txns, ATM txns etc., which is good in my opinion.

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Tech Guru
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Chikky wrote:

RBI and government want to push cashless drive. They may add / increase charges on cash txns, ATM txns etc., which is good in my opinion.

Harder to cheat on taxes if its cashless transactions..

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By the way most of us didn’t read the news in detail. RBI has dropped charges on NEFT and RTGS which was anyways negligible, this is charge RBI was charging. RBI deals in NEFT and RTGS while NPCI deals in IMPS and UPI.

RBI has asked banks to pass this benefit. Which will not more 20-25 paisa NEFT and 1-1.5 rs in RTGS.

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marketdimer wrote:

By the way most of us didn’t read the news in detail. RBI has dropped charges on NEFT and RTGS which was anyways negligible, this is charge RBI was charging. RBI deals in NEFT and RTGS while NPCI deals in IMPS and UPI.

RBI has asked banks to pass this benefit. Which will not more 20-25 paisa NEFT and 1-1.5 rs in RTGS.

Aisi cheezein chhoti chhoti font mein hoti hai, insurance terms ki tarah stuck_out_tongue_closed_eyes

BTW, thanks for the detailed information. KG! raised_hands

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