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Added on : 2019-07-01 09:31:06

With effect from today, the Reserve Bank of India (RBI) has waived off all charges on fund transfer through Real Time Gross Settlement System (RTGS) and National Electronic Funds Transfer (NEFT) System. This, in turn, will result in lowering of fund transfer charges for bank customers.

After reviewing various charges levied by it on the member banks for transactions processed in the RTGS and NEFT systems, RBI has asked banks to pass on the benefits to the customers with immediate effect.

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