SBI Increases IMPS Transaction Limit From Rs 2 Lakh To Rs 5 Lakh
NDTV
To further push digital banking, the country's largest lender State Bank of India (SBI) on Tuesday decided to increase the Immediate Payment Service (IMPS) limit from Rs 2 lakh to Rs 5 lakh.
New Delhi: To further push digital banking, the country's largest lender State Bank of India (SBI) on Tuesday decided to increase the Immediate Payment Service (IMPS) limit from Rs 2 lakh to Rs 5 lakh. "The bank has not levied any service charges on IMPS transactions up to Rs 5 lakh, done through Internet banking or Mobile Banking including YONO (app)," SBI stated in a release.
"In the case of branch channels, there has been no change in the service charges for IMPS in the existing slabs," it added.
"A new slab for Rs 2 lakh to Rs 5 lakh has been added, and proposed service charges for this slab is Rs 20 plus GST (goods and services tax) with effective from February 1, 2022," the lender mentioned.
"The service charges on IMPS are in line with the service charges on NEFT and RTGS transactions," SBI further said.
