Service Charges for Electronic Payments

On 8th Oct’08, RBI mandated that Banks must NOT charge for any Inward RTGS/NEFT/ECS transactions (i.e., for receiving funds). For Outward transactions, i.e., sending the funds, the Maximum Charges have been specified as below: (i)  RTGS  – Rs. 1 to 5 lakh             – not exceeding Rs. 25 per transaction – Rs. 5 lakh and above   ...