New Delhi: Funds transfers through NEFT and RTGS are set to become cheaper from July 1 following a direction from the Reserve Bank of India against imposing charges on such transactions.
The State Bank of India, for example, levy charges between Rs 1 to Rs 5 for transactions through NEFT and between Rs 5 to Rs 50 through RTGS. All these charges will come to an end from July 1 (Monday), said news agency PTI.
The move is aimed at encouraging digital transaction and give a push to the digital economy, Indian Bank Association Chairman Sunil Mehta was quoted by PTI as saying.
GST Return:
Meanwhile, the Finance Ministry will also on Monday roll out a new GST return filing system on a trial basis. The system will subsequently be made mandatory from October 1. The rollout will coincide with two years of the GST implementation.
Rationalisation of cash ledger system and a single refund-disbursing mechanism are also on the cards, the Finance Ministry said in a statement.
Imphal: The National Investigation Agency (NIA) has taken charge of probing three key cases related…
New Delhi: The once elusive Aamir Khan has become more visible in the past few…
Bhunbaneswar: Vigilance sleuths on Monday launched simultaneous raids at four places linked to Subash Chandra…
Bhubaneswar: The 10th National Children’s Literary Festival 2024 at KIIT International School began on a…
Bhubaneswar: Dr Achyuta Samanta, the Founder of KIIT and KISS, has been conferred the prestigious…
Sambalpur: In a tragic incident, three elephants died reportedly due to electrocution after coming in…
New Delhi: Amid reports that Ayatollah Ali Khamenei is seriously ill, the Iranian supreme leader…
New Delhi: The air pollution level in the national capital reached the ‘severe plus’ category…