People happy with SBI Bank announcement ..!

Sowmiya Sriram
people happy with sbi bank announcement ..!

State bank of india, the country's largest public sector bank, has issued a landmark announcement as all parties are pushing for the promotion of wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital money in India. With this announcement, not only public sector banks but also private sector banks are expected to follow the state bank of India.
So what did the bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">state bank of india say? Do you know what is the benefit to the common people?
With the recent introduction of offline payment by the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india for the rural and downtown population to promote wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital payment services in india, the bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">state bank of india today issued a significant announcement to encourage more wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital money changers and doers. sbi bank today announced that it will no longer charge any service fee for IMPS transactions up to Rs 5 lakh made through sbi Bank's wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital banking service sites.

That means zero charges for IMPS money transfers up to Rs 5 lakh, currently charged based on the amount of money transferred through IMPS, no more. Also, this free IMPS money transfer service is only available on wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital service sites, such as Internet banking, mobile banking, yono sbi, and so on. But if the same IMPS service is done at the bank branch it will have a service charge along with GST. Previously, only Rs 2,00,000 could be transferred under the IMPS service.Do you know how much the bank charges for this IMPS service which is declared as free in wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital banking service ..? Up to 1000 rupees - 0 rupees, Rs.1000 to Rs.10,000 - 2 rupees + GST Rs.10,000 to Rs.1,00,000 - 4 rupees + GST Rs.1,00,000 to Rs.2,00,000 - 12 rupees + GST Rs.2,00,000 to Rs.5,00,000 - Rs.20 + GST is the same fee as before which is now declared free of cost from online service.

State bank of india, which has the largest number of retail customers in the country, has raised the possibility of lowering IMPS fees, just as all banks are raising interest rates on loans. Will private banks do this ..?
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