Lok Sabha Question No. 3435 (UNSTARRED), answered on 2017-08-04
Subject: Reducation of Online Transaction Charges
Ministry: FINANCE
Asked by: RAM CHARITRA

## GOVERNMENT OF INDIA MINISTRY OF FNNANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UN-STARRED QUESTION No. 3435

TO BE ANSWERED ON 4"h August 2017 (FRIDAYYSHRAVANA 13, 1939 (SAKA)

## Reduction of Online Transaction Charges

## 3435. SHRI RAM CHARITRA NISHAD

- a) whether the State Bank of India (SBI) has reduced charges upto 75 per cent of its mobile and internet banking services and if the details thereof; SO,
2. (b) whether the banks have also waived charges for fund transfer upto Rs.1O00 done through immediate payment service and if the details thereof; and
3. whether the SBI still charges customers more on many accounts as compared to other banks, if so, the details thereof and the action taken by the Government in this regard?

## Answer

## The Minister of State in the Ministry of Finance (SHRI SANTOSH KUMAR GANGWAR)

- (a) Yes. Details are at Annex-[.
- (b) No is levied for fund transfer up to Rs. 1,000 through Immediate Payment System by 16 Public Sector   Banks,  viz , Allahabad Bank; Andhra Bank of Baroda, Maharashtra, Canara Bank, Corporation Bank, Dena Bank, Indian Bank; IDBI Bank, Oriental Bank of Commerce, Punjab Union Bank of India and Vijaya Bank charge
- Details are at Annex-II. Reserve Bank of India' s instructions are that Boards of Scheduled Commercial Banks fix service charges for various types of services rendered by them, which should be reasonable and are not out of line with the average cost of providing the services.

*****

Annex for Lok Sabha question no. 3435 for 4.8.2017

## Charges of State Bank of India

| Transaction slab   | Per transaction charges levied by State Bank of India on National Electronic Fund Transfer (NEFT) through mobile banking/internet banking   | Per transaction charges levied by State Bank of India on National Electronic Fund Transfer (NEFT) through mobile banking/internet banking   |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------|
| Transaction slab   | as on 07.11.2016                                                                                                                            | as on 31.07.2017                                                                                                                            |
| Up to Rs.10,000    | Rs.2/-                                                                                                                                      | Re.1/-                                                                                                                                      |
| 10000 to 1 lakh    | Rs.4/-                                                                                                                                      | Rs.2/-                                                                                                                                      |
|                    | Rs.12/-                                                                                                                                     | Rs.3/-                                                                                                                                      |
| Above Rs.2 lac     | Rs.20/-                                                                                                                                     | Rs.5/-                                                                                                                                      |

Source: State Bank of India

Annex II for Lok Sabha question no. 3435 for 4.8.2017

## Compilation of charges for National Electronic Fund Transfer (NEFT) of Public Sector Banks

| Bank                      | Per transaction charges on National Electronic Fund Transfer through Mobile banking Facility (Lowest slab) and Internet banking Facility (Lowest slab   | Per transaction charges on National Electronic Fund Transfer through Mobile banking Facility (Lowest slab) and Internet banking Facility (Lowest slab   |
|---------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           | As on 7.11.2016                                                                                                                                         | As on 31.07.2017                                                                                                                                        |
| Allahabad Bank            | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Andhra Bank               | Nil for Mobile Banking; Rs2,5 for Internet Banking_                                                                                                     | Nil                                                                                                                                                     |
| Bank of Baroda            | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Bank of India             | Nil for Mobile Banking; Rs. 2.5 for Internet Banking                                                                                                    | Nil for Mobile Banking; Rs: 2.5 for Internet Banking                                                                                                    |
| Bank of Maharashtra       | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Canara Bank               | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Central Bank of India     | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Corporation Bank          | Rs. 2.5 for Mobile Banking and Internet Banking                                                                                                         | Rs. 2.5 for Mobile Banking and Internet Banking                                                                                                         |
| Dena Bank                 | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
|                           | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Indian Bank               | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Indian Overseas Bank      | Rs. 2.5 for Mobile Banking and Internet Banking                                                                                                         | Rs. 2 for Mobile Banking and Internet Banking                                                                                                           |
| Oriental Bank of Commerce | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Punjab & Sind Bank        | Nil for Mobile Banking;                                                                                                                                 | Nil for Mobile Banking; Rs. 2.5 for Internet Banking                                                                                                    |
| Punjab National Bank      | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| State Bank of India       | Rs. 2 for Mobile Banking and Internet Banking                                                                                                           | Rs_ 1for Mobile Banking and Internet Banking                                                                                                            |
| Syndicate Bank            | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| UCO Bank                  | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Union Bank of India       | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| United Bank of India      | Nil                                                                                                                                                     | Nil                                                                                                                                                     |
| Vijaya Bank               | Nil for Mobile Banking Rs. 3 for Internet Banking                                                                                                       | Nil for Mobile Banking; Rs. 3 for Internet Banking                                                                                                      |

Source: Public Sector Banks