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 … Read more
RBI has issued new guidelines for credit of inward fund transfer for NEFT/RTGS/ECS Credit and debit in case of ECS Debit. To ensure straight-through processing and quicker credit/debit and return, RBI has allowed banks to credit the incoming NEFT/RTGA/ECS solely based on the account number in the instruction. Beneficiary Banks are not required to manually … Read more
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 … Read more