Lok Sabha Question No. 1177 (UNSTARRED), answered on 2017-12-22
Subject: Digital Transaction Charges
Ministry: FINANCE
Asked by: CHANDRAKANT BHAURAO KHAIRE, A. ARUNMOZHITHEVAN

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION No. 1177

DECEMBER 2017 (FRIDA YYPAUSHA 1,1939 (SAKA) 22nd

## Digital Transaction Charges

## SHRI CHANDRAKANT KHAIRE: SHRI A. ARUNMOZHITHEVAN:

TO BE ANSWERED ON

## 1177.

- whether the Public Sector Banks (PSBs) have been asked to Immediate Payment Service (IMPS) and Unified Payment Interface (UPI) charges in line with National Electronic Fund Transfer where RBL allows fee of Rs. 2.50 for transfers of upto Rs. [0,000; and if so, the steps taken by the PSBs in this regard; keep
- b) whether the SBI has reduced charges upto 75 per cent for its mobile and internet banking services and if SO, the details thereof;
- c) whether the Bank has also waived  fiund transfer charges upto Rs. 1000 done through immediate payment service and if so, the details thereof; and
- (d) whether the SBI is charging its customers more on many accounts as compared to other banks and if the details thereof with the action taken by the Government in this regard? along

## Answer

## The Minister of State in the Ministry of Finance (SHRI SHIV PRATAP SHUKLA)

- (a) Reserve Bank of India has apprised that there is no such extant instruction to public sector banks:
- (b) State Bank of India (SBI) has informed that it has reduced charges on mobile banking and internet banking services upto 80%, the details of which are given in Annexure:
- (c) SBI has informed that it is not charging customers for fund transfer through Immediate Payment Service (IMPS) upto Rs. 1,000\_
- SBI has informed that it is not charging its customers more on many accounts as compared to other banks.

Annexure to Lok Sabha question no. 1177 for 22.12.2017 regarding "Digital Transaction Charges"

| IMPS CHARGES                  | IMPS CHARGES       | IMPS CHARGES                     | IMPS CHARGES      |
|-------------------------------|--------------------|----------------------------------|-------------------|
| Amount                        | Previous Charges   | Revised Charges w.ef: 15.10.2017 | % Reduction       |
| Upto Rs. 4,000/ -             | NIL                | NIL                              | NIL               |
| Rs. 1001/-to Rs. 10,000/-     | Rs.5/-             | Rs.1/-                           | 80%               |
| From Rs. 10,001/-to Rs. 1 lac | Rs. 5/-            | Rs. 2/-                          | 60%               |
| Rs. 1,00,001 up to Rs.2 lacs  | Rs.15/-            | Rs. 3/-                          | 80%               |
| NEFT TRANSACTIONS             | NEFT TRANSACTIONS  | NEFT TRANSACTIONS                | NEFT TRANSACTIONS |
| Amount                        | Previous Charges   | Revised                          | % Reduction       |
| Amount                        | (Exclusive of GST) | (Exclusive of GST)               | % Reduction       |
|                               | Rs. 2/-            | Rs. 1/-                          | 50%               |
| From Rs. 10,001 to Rs: lac    | Rs_ 4/ -           | Rs. 2/-                          | 50%               |
| From Rs. 2 Iac Rs;            | Rs.                | Rs. 3/-                          | 75%               |
| Above Rs. 2 lac               | Rs. 20/ -          | Rs. 5/ -                         | 75%               |
| RTGS TRANSACTIONS             | RTGS TRANSACTIONS  | RTGS TRANSACTIONS                | RTGS TRANSACTIONS |
| From Rs. 2 lac to Rs. 5 lac   | Rs. 20/ -          | Rs. 5/ -                         | 75%               |
| Above Rs. 5 lac               | Rs.40/ -           | Rs. 10/ -                        | 75%               |

Source: SBI