Fund transfers via RTGS, NEFT to cost less from July 1

The Reserve Bank of India on Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1. The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers of up to Rs 2 lakh.

Fund transfers via RTGS, NEFT to cost less from July 1
The Reserve Bank of India on Tuesday said it will waive all charges on fund transfer through popular RTGS and NEFT systems from July 1. The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers of up to Rs 2 lakh.