Digital India News

Government encouraging Digital transactions by limiting charges on electronic fund transfer

The finance ministry has asked public sector banks to limit fees on payments through IMPS and UPI such that it will be applicable for NEFT above Rs.1000.

According to the official statement, these banks will not charge any fee for transactions settled on IMPS and UPI in excess of charge rates of NEFT for transactions above Rs.1000 with service tax being charges at actuals.

These directions are applicable till March 31.

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