RBI Removes RTGS And NEFT Charges

The RBI Bank (Reserve Bank of India) decided that there will be no charges for NEFT and RTGS transactions. The Bank decided on 06/06/2019 that RTGS and NEFT will be free i.e no deductions for transactions.

RTGS & NEFT Charges – Most of the Bank levy charges for these transactions on their customer, fee may depend on Bank to Bank. But basically NEFT charge is less in compare to RTGS.

About RTGS And NEFT

RTGS (Real Time Gross Settlement System)and NEFT (National Electronic Fund Transfer), these system is used for fund transfer from one account to another account (with in Bank or in other Bank).
NEFT allow less limit of amount for fund transfer and takes bit more time in compare to RTGS. RTGS allows huge amount for transfer.