SBI waives charge on IMPS fund transfer of up to Rs 1,000 New Delhi, July 12 (PTI): Country’s largest bank SBI has waived charges for fund transfer of up to Rs 1,000 through its IMPS (Immediate Payment Service) to promote small transactions. State Bank of India had been charging Rs 5 along with the applicable service tax for IMPS fund transfer of up to Rs 1,000. IMPS is an instant interbank electronic fund transfer service through mobile phones as well as internet banking. “In order to promote small ticket size transactions, SBI has waived off IMPS charges for transfer up to Rs 1,000,” the bank said while informing about the revised IMPS transfer charges under the Goods and Services Tax (GST) regime. For IMPS, charge will be Rs 5 along GST for fund transfer in the range of Rs 1,000 to Rs 1 lakh. The charge will go up to Rs 15 for transactions of Rs 1-2 lakh. GST at the rate of 18 per cent is applicable on all financial transactions. Deposited demonetised notes still being counted: RBI Governor New Delhi, July 12 (IANS): RBI Governor Urijit Patel on Wednesday told a parliamentary committee that the amount of junked notes deposited after demonetisation was still being counted. Patel gave this information at a meeting of the Parliamentary Standing Committee on Finance when a member specifically asked him to give details of the value of the Rs 500 and Rs 1,000 notes which were allowed to be exchanged till December 30. He said the total money in circulation in the country now was Rs 15.4 lakh crore against Rs 17.7 lakh crore at the time of demonetisation in November last year, according to sources. At the meeting, Naresh Agarwal of the Samajwadi Party is understood to have demanded the names of 12 industrialists whose outstanding loans amounted to 25% of the non-performing assets in the banking system.
