NEFT/ RTGS Charges Changed 1

RBI has announced the change in Charges for NEFT & RTGS w.e.f. 15th November 2010.

The revised charges are as below:

RTGS – New Minimum limit = Rs.2 Lakhs
Amount                              Charges
2Lakhs – 5Lakhs                Rs.25/-
Above 5Lakhs                     Rs.50/-

NEFT
Amount                              Charges
Up to 1Lakh                        Rs.5/-
1Lakh – 2Lakhs                Rs.15/-
Above 2Lakhs                     Rs.25/-

According to RBI this has been done to improve the efficiency of the RTGS system which primarily is meant for high-value transactions.
Moreover NEFT has 11 settlement cycles a day currently and can be used for near real-time transfer of low value funds.

Read RBI Circular Here

One comment on “NEFT/ RTGS Charges Changed

  1. Sujeesh.N.S Nov 30,2010 16:07

    Please give me the ,details of RBI notification like Notification/Guidlines no and date for the change of RTGS/NEFT charges

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