SBI Changes Rule: A huge change in SBI rules,
SBI Changes Rule: A huge change in SBI rules, what consumers should know
SBI Changes Rule: State Bank of India, the country’s largest public sector bank, has now increased the Immediate Payment Service limit for money transfers in every branch.
SBI Changes Rule: State Bank of India (SBI), the country’s largest public sector bank, has now increased the Immediate Payment Service (IMPS) limit for money transfer in each branch. According to the data provided by the bank, from today till 1 February 2022, a new slab has been added to IMPS transactions.
According to this new slab, GST (Rs. 20 lakh plus GST) will be charged for sending money from IMPS to Rs 2 lakh to Rs 5 lakh. IMPS is a payment service provided by banks. This is a 24 X7 service available on all holidays, including Sundays.
Do you know what IMPS is?
IMPS is a mobile payment service. Through this you can send money to any account holder anywhere, anytime. There is no restriction on timing of transfer of funds. Under this special service, funds can be transferred 24 hours a day, seven days a week through IMPS.
You can send money anywhere in India through online banking. But the methods of sending money are different. There are three ways to transfer money from online banking – IMPS, NEFT, RTGS.
It is managed by the National Payment Corporation of India. In which the money is transferred immediately. IMPS is available 24 × 7 throughout the year. However, NEFT and RTGS do not support this feature.
Declaration by RBI:
Reserve Bank of India (RBI) Governor Shaktikanta Das made a big announcement on the IMPS service in October. Under this, customers are able to make up to 5 lakh transactions in a day. Previously it was limited to Rs 2 lakh
SBI Special Offer:
On New Year, SBI has introduced a special offer for its customers. People have to pay higher interest on personal loans. Therefore, SBI has introduced a pre-approved personal loan offer to its customers. This can be obtained through the YONO app. Under this, the bank is also offering special discounts on personal loans to its customers. State Bank Of India offers loans to customers at zero processing fee.