Sunday, June 19, 2011

Fees for RTGS and NEFT

Fees for RTGS vary from bank to bank.RBI has prescribed upper limit for the fees which can be charged by all banks both for NEFT and RTGS. Both the remitting and receiving must have Core banking in place to enter into RTGS transactions. Core Banking enabled banks and branches are assigned an Indian Financial System Code (IFSC) for RTGS and NEFT purposes.

Regards
G.Srinivas

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