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all of pl note. The other mode of paymnt - cheque- is given by bank - their instrument. They are liable for any misuse etc. But in the case of NEFT/ etc- we FIRST INDEMNIFY THE BANK FOR ANY PROBLEM/ BESIDES - REDUCING THEIR WORK. We are doing their work for which they charge us ??? Then why should we keep a min balance in the bank for current / savings account. we never realise the cost of this. If we are keeping a current account with a bank for say 10 yrs - assuming we keep a min balance of 5000 Rs - the cost of this it self - 750 Rs a year - or 7500 Rs for 10 yrs. If we keep this in banks fd it self it will more than double.They can charge 750 rs a year & allow us to keep 0 Rs balance.VIJAYAKUMAR - CHENNAI
These rates applicable for inter bank tranfers only na?
Please tell me
This is applicable for both the types of accounts, ie Current and Savings Bank account.
Good move by RBI and this definitely would encourage more customers to use NEFT.
Can any one tell me, this is applicable to current account or saving account ??? I often use NEFT. Pls. guide
this is applicable for both current @
Any body please tell me,
This is applicable for Current A/c or Savings A/c.
please leave the comment
That's good. we are often transferring funds by NEFT. We will do so even more now. Effectively banks will earn more thru NEFT transactions.
thank you for sharing this info
THANKS FOR THE INFORMATION
I agree with your statement of loss of revenue for the bank. But in terms of intrinsic benefit stakeholders have benefited tremendously by time, paper, costing of handling and storage and customer service efforts. Considering this, I feel the stakeholder must make it free for all transactions below 1 Lac.
I don't know what is Rs. 1 Lac value in today's terms. If you take RBI stats for transactions > 1L, it would make much sense. Overall beneficiaries are the bank in this automation process apart from the customer benefits.
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