These new charges will be applicable from August 15, 2025. According to PTI news, no change has been made on IMPS transactions done through the branch. But now if an amount of more than ₹ 25,000 is transferred through online medium (such as net banking or mobile banking), then minimum charges will be applicable on it.

New IMPS Charges (for online transactions)

Transaction amount Service charge (GST extra)

₹25,000 – Up to ₹1 lakh ₹2
₹1 lakh – Up to ₹2 lakh ₹6
₹2 lakh – Up to ₹5 lakh ₹10

GST will be applicable additionally with the above charges.

Who will get the discount?

Salary package account holders will continue to get full exemption on online IMPS transactions as before. There will also be no charge on online IMPS transactions of current accounts such as Gold, Diamond, Platinum, Rhodium, Government Department, Autonomous/Statutory Bodies. New service charges for corporate customers will be applicable from 8 September 2025.

What is IMPS

IMPS (Immediate Payment Service) is a robust and real-time payment system that allows users to transfer funds instantly 24×7 through interbank funds. This service is available through multiple channels including mobile apps, internet banking, bank branches, ATMs and SMS. With the help of IMPS, money can be transferred between bank accounts across the country in just a few seconds. This system is fast, secure and cost-effective, thereby promoting digital payments.

Currently, there are a total of 958 active members on the IMPS network, which includes various banks and prepaid payment instrument (PPI) companies. With the facility of IMPS, consumers can now send or receive money from anywhere and at any time, that too without any delay.

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Not only this, on July 16, you will not be able to do online money transfer through IMPS, NEFT and RTGS. Yes, the country’s largest government bank – SBI (State Bank of India) has issued an important information for its customers. State Bank of India has shared all this information from its official X account on Monday, July 14.

SBI’s online banking service will be completely shut down

State Bank of India said that the bank’s UPI, ATM, YONO, IMPS, RINB (Retail Internet Banking), NEFT and RTGS services will be temporarily closed for a total of 1 hour and 5 minutes from 01.05 pm to 02.10 pm on Wednesday, 16 July. State Bank said that all these services will resume after 02.10 pm and will work normally as before. State Bank of India said that maintenance work is to be done from 01.05 pm to 02.10 pm on 16 July, due to which all these services will remain closed.

Due to scheduled maintenance activity, our services UPI, IMPS, YONO, RINB, ATM, NEFT and RTGS will be temporarily unavailable from 01:05 hrs to 02:10 hrs on 16.07.2025 (IST). These services will resume by 02:10 hrs on 16.07.2025 (IST).

Meanwhile, customers are advised to use our…

— State Bank of India (@TheOfficialSBI) July 14, 2025

SBI customers can use UPI Lite

The country’s largest public sector bank said that this maintenance work was already scheduled. The bank has said that during the time the services are closed, UPI Lite can be used instead of UPI. Along with this, the bank has also apologized to its customers for this inconvenience. Let us tell you that now all banks provide online banking services to their customers and they have to maintain and update their online banking system from time to time, during which the system is maintained and updated, the services are closed for some time.

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New fees related to ATM

At ICICI Bank ATM: First 5 financial transactions will be free every month. After that, a charge of Rs 23 will be levied on every transaction.

• Non-financial transactions (like checking balance) will be free.
• No charges will be levied on senior citizen customers.
• Charges at ATMs of other banks
• 3 transactions free in metro cities.
• 5 transactions free in non-metro cities.
• After this, a charge of Rs 23 will be levied on financial transactions and Rs 8.50 on non-financial transactions.
• International ATM
• Rs 125 on cash withdrawal
• Currency conversion charge 3.5%
• Rs 25 on non-financial transactions
• IMPS transaction charges
• Transfer up to Rs 1,000: Rs 2.50 per transaction
• Rs 1,001 to Rs 1 lakh: Rs 5
• Rs 1 lakh to Rs 5 lakh: Rs 15
• Changes in cash deposit and withdrawal
• 3 free cash transactions per month (at branches and CRMs).
• After this, a charge of Rs 150 will be levied on every transaction.
• For deposits above Rs 1 lakh, Rs 150 or Rs 3.50 per Rs 1,000 (whichever is higher) will be charged.
• Third party deposit limit is limited to Rs 25,000 per transaction.
• The same rules will apply to cash withdrawals – 3 free transactions, then Rs 150 per transaction.
• Value-based charges will be levied on withdrawals above Rs 1 lakh.
• The limit for third party withdrawals is also up to Rs 25,000 per transaction.
• Debit card charges
• Annual fee
• Rs 300 for general customers
• Rs 150 for rural areas
• Rs 300 will be charged for replacement cards.

These new charges of ICICI Bank will affect those customers more, who make cash deposits, withdrawals or ATM transactions several times every month. Customers are advised to plan their transactions in advance so that additional charges can be avoided.

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ICICI Bank will carry out pre-scheduled maintenance work in the bank from 11:55 pm on 14 December 2024 to 6:00 am on 15 December 2024. During this time, the RTGS i.e. Real Time Gross Settlement Service of the bank will be affected. The customers of the bank will not be able to use the service of RTGS during this time.

ICICI Bank customers can use this service during this time

During this period, ICICI Bank customers can use NEFT, IMPS and UPI services through iMobile app or internet banking.

What is RTGS?

RTGS is an electronic funds transfer method that provides real-time and instant settlement of large payments between bank accounts.

What are the RTGS charges of the bank

There will be no charges on RTGS transactions done online through Internet Banking, iMobile Pay, Pockets App.

₹20 + GST ​​will be charged for RTGS transactions from ₹2 lakh to ₹5 lakh from bank branch.

A charge of ₹45 + GST ​​will be applicable on transactions between ₹5 lakh and ₹10 lakh. Customers are advised to complete their required RTGS transactions before this deadline.

ICICI Bank FD interest rate – on FDs up to Rs 3 crore

• 7 days to 29 days: For general public – 3.00%; For senior citizens – 3.50%
• 30 days to 45 days: For general public – 3.50%; For senior citizens – 4.00%
• 46 days to 60 days: For general public – 4.25 percent; For senior citizens – 4.75 percent
• 61 days to 90 days: For general public – 4.50%; For senior citizens – 5.00%
• 91 days to 184 days: For general public – 4.75 percent; For senior citizens – 5.25 percent
• 185 days to 270 days: For general public – 5.75 percent; For senior citizens – 6.25 percent
• 271 days to less than 1 year: For general public – 6.00%; For senior citizens – 6.50%
• Less than one year to 15 months: 6.70 percent; For senior citizens – 7.20 percent
• 15 months to less than 18 months: For general public – 7.25 per cent; For senior citizens – 7.80 per cent
• 18 months to 2 years: For general public – 7.25 percent; For senior citizens – 7.75 percent
• 2 years 1 day to 5 years: For general public – 7.00 percent; For senior citizens – 7.50 percent
• 5 years 1 day to 10 years: For general public – 6.90 per cent; For senior citizens – 7.40 per cent.
• 5 year tax saving FD: 7 per cent; For senior citizens – 7.50 per cent.

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The post Bank Customers ALERT! This bank service will not be available on THESE 2 dates – Check Details first appeared on Rightsofemployees.com.

IMPS Charges: IMPS (Immediate Payment Service) is a real-time money transfer service, which is available 24/7. This service can be accessed through multiple channels including mobile, internet, branch, ATM and SMS. This is a service through which funds can be transferred quickly and securely between banks in India. It is also quite economical.

There is also two-factor authentication when transferring money through IMPS. There is also a limit if IMPS is used for fund transfer. Customers do not need to register for mobile banking when initiating an IMPS transaction through ATM or online channel. Similarly, customers also do not need to register for withdrawing money through mobile banking or account number/IFSC.

Let us know what are the charges of banks for IMPS money transfer

SBI IMPS Charges:

There is no charge for transactions from ₹1 to ₹5,00,000.

HDFC Bank IMPS Charges:

₹0 – ₹1000: ₹3.50 + applicable GST
₹1001 – ₹100000: ₹5 + applicable GST
Above ₹100000: ₹15 + applicable GST

Axis Bank IMPS Charges:

Up to ₹1000: ₹2.50 per transaction
₹1,000 to ₹1,00,000: ₹5 per transaction
₹1,00,000 to ₹5,00,000: ₹10 per transaction
Additional taxes are applicable.

Canara Bank IMPS Charges:

₹0 to ₹25,000: No charges

₹25,001 to ₹100,000: ₹8 + GST

₹100,001 to ₹500,000: ₹15 + GST

₹10,000 to ₹1 lakh: ₹475

₹1 lakh to ₹50 lakh: ₹500

Also Read- PNB changed the service charge for 5 services, Check new charges

Kotak Mahindra Bank IMPS Charges:

No charge

YES Bank IMPS Charges:

There are no charges for transactions made through the mobile app.

A charge of ₹5 + GST ​​is applicable for using IMPS through Net Banking.

IMPS is a convenient and safe option that provides instant money transfer service. However, it is important to be aware of the charges and rules applicable while making the transaction.

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NPCI had issued circular

According to the news, the NPCI circular dated October 31, 2023 states that all members are requested to take note of this and start and accept fund transfers through mobile number + bank name on all IMPS channels by January 31, 2024. Comply with. Banks will also provide the option to successfully add valid mobile number and bank name combination as payee/beneficiary on mobile banking and internet banking channels, the circular said.

IMPS

In online money transfer, a large number of fund transfers are done through IMPS. It is a vital payment system that provides 24×7 instant domestic money transfer facility and is accessible through various channels like Internet Banking, Mobile Banking App, Bank Branches, ATM, SMS and IVRS. Currently IMPS processes transactions through P2A (Account + IFSC) or P2P (Mobile Number + MMID) transfer mode.

For multiple accounts linked to mobile number

As per NPCI circular, for multiple accounts linked to a mobile number, the beneficiary bank will credit the primary/default account. The primary/default account will be identified using customer consent. If the customer’s consent is not provided, the bank will decline the transaction.

The post New IMPS money transfer rule will be implemented from tomorrow, it is important for you to know this first appeared on Rightsofemployees.com.

Change in rules for withdrawal from NPS

Pension regulator PFRDA has announced changes in the rules for withdrawal from the National Pension System i.e. NPS. The new rule will come into effect from February 1. Under the new rule, NPS account holder will not be allowed to withdraw more than 25 percent of the total deposited amount. This will include the contribution amount of both the account holder and the employer.

New rule of IMPS

From February 1, you will be allowed to transfer up to Rs 5 lakh between bank accounts without adding any beneficiary. National Payments Corporation of India (NPCI) has streamlined the Immediate Payment Service (IMPS) to make bank account transactions faster and more accurate. According to NPCI, you can send money by simply entering the cellphone number and bank account name of the recipient or beneficiary.

SBI home loan offer

State Bank of India (SBI) customers can avail home loan concession up to 65 bps lower than the actual card rate. The last date for processing fees and concession on home loan is 31 January 2024. This discount is valid for all home loans, including Flexipay, NRI, Non-Salary, Privilege and Own Home Loans. This benefit will end from February 1.

Punjab and Sindh BankSpecial FD

The last date for Punjab & Sind Bank (PSB) special FD ‘Dhan Lakshmi 444 Days’ is January 31, 2024. All resident Indians who are eligible to open a domestic fixed deposit account NRO/NRE deposit account holders can apply to open this special FD scheme called PSB Dhan Lakshmi.

Fastag without KYC link will become inactive

Fastag without KYC will be deactivated or blacklisted by banks after January 31. NHAI has taken this step following recent reports of multiple FASTags being issued to one vehicle in violation of the Reserve Bank of India order and FASTags being issued without KYC. It aims to discourage user behavior of using a single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle. In such a situation, if your Fastag does not have KYC then get it done by 31st otherwise it will become inactive from 1st February.

New installment of sgb

The Reserve Bank of India (RBI) will issue the final tranche of Sovereign Gold Bonds (SGBs) in the 2023-24 series. This upcoming issue, known as SGB 2023-24 Series IV, will be available for subscription on February 12, 2024 and will close on February 16, 2024.

The post 1st February Rule Changes: There will be changes in IMPS, NPS and Fastag from 1st February first appeared on Rightsofemployees.com.

For this, only the mobile number of the beneficiary and the name registered in the bank will be required. This feature will be coming soon. In the present system, to send money through IMPS, registration has to be done by entering the name of the beneficiary, his bank account number and IFSC code of the bank.

This process of registration also takes some time. The amount cannot be sent until the beneficiary details are linked to the other account. Once the account is linked, the beneficiary receives the money through IMPS immediately. After the implementation of the new rule, the process of adding account details will not have to be completed.

Will be able to verify the beneficiary

It is being told that the new service of IMPS will also provide the facility to verify the beneficiary. With this, the sender of money will be able to see whether the account number of the person to whom he is sending the money is correct or not. The new feature will help the sender to double check the name entered in the bank details.

There will be expansion in these areas

NPCI said this new arrangement will be extended to corporates with wholesale and retail transactions. Its upper limit will vary from bank to bank depending on their policies.

Two ways to send money right now

– In the first method, to send money one has to use the bank account number, bank name and IFSC code of the bank. Using these, the beneficiary’s account has to be linked to one’s own account.
– The second method involves using mobile number and Mobile Money Identifier (MMID) to identify the beneficiary while sending money from one bank account to another. MMID is a seven digit number which the bank issues to its customer.

The post IMPS New Service Update: You can send up to Rs 5 lakh without adding any beneficiary to your account, know how? first appeared on Rightsofemployees.com.

Now you will be able to transfer up to Rs 5 lakh without adding benefits. This means that to transfer money through IMPS, you will not need the beneficiary’s account number nor IFSC code. Now you will be able to send an amount up to Rs 5 lakh through IMPS just by entering the name of the bank and the mobile number of the beneficiary.

What are the rules so far?

Till now, if a huge amount has to be sent from one account to another through IMPS, then before that the name of the beneficiary, account number and IFSC code has to be entered. This process takes time. However, now after the implementation of the new rule, you will be able to transfer up to Rs 5 lakh from one bank account to another without adding a beneficiary. NPCI says you can use the mobile number and bank account name of the recipient or beneficiary to send money. NPCI says that verification can be done on the basis of the name in the beneficiary’s bank account.

Keep these things in mind

If you are going to transfer a large amount through IMPS, then confirm the name and mobile number of the beneficiary several times before that. Do not share your debit card details (card number, expiry date and CVV number) with any unknown person. Do not share any OTP you receive. Also do not forward SMS to unknown numbers and do not share your net/mobile banking login password.

The post Now you can transfer money through IMPS only by using bank name and mobile number first appeared on Rightsofemployees.com.

For this, only the mobile number of the beneficiary and the name registered in the bank will be required. This feature will be coming soon. In the present system, to send money through IMPS, registration has to be done by entering the name of the beneficiary, his bank account number and IFSC code of the bank.

This process of registration also takes some time. The amount cannot be sent until the beneficiary details are linked to the other account. Once the account is linked, the beneficiary receives the money through IMPS immediately. After the implementation of the new rule, the process of adding account details will not have to be completed.

Will be able to verify the beneficiary

It is being told that the new service of IMPS will also provide the facility to verify the beneficiary. With this, the sender of money will be able to see whether the account number of the person to whom he is sending the money is correct or not. The new feature will help the sender to double check the name entered in the bank details.

There will be expansion in these areas

NPCI said this new arrangement will be extended to corporates with wholesale and retail transactions. Its upper limit will vary from bank to bank depending on their policies.

Two ways to send money right now

– In the first method, to send money one has to use the bank account number, bank name and IFSC code of the bank. Using these, the beneficiary’s account has to be linked to one’s own account.
– The second method involves using mobile number and Mobile Money Identifier (MMID) to identify the beneficiary while sending money from one bank account to another. MMID is a seven digit number which the bank issues to its customer.

The post You can send up to Rs 5 lakh without adding any beneficiary to your account, know how? first appeared on Rightsofemployees.com.

But sometimes customers also face such a situation that it fails on doing NETF or RTGS or any kind of money transaction from their account. Money does not reach the beneficiary’s account after the transfer. So what to do in such a situation? Let’s know the rules.

What if NEFT transaction fails?

In NEFT or National Electronic Fund Transfer, it usually takes 15 minutes for the money to arrive in the beneficiary’s account. In some cases it may take longer than this. Enough is enough, the beneficiary can get the money in two hours. But if there is something wrong then the money may not be credited at all. It is possible that the customer has wrongly entered the account number and other details of the beneficiary. If the details are not wrong and still the money has not arrived, then you can wait for some time and see. In these cases, either the money comes within two hours or the bank returns the money to your account. If this does not happen then you should go to the bank.

Will the bank pay the fine?

According to RBI rules, if the beneficiary’s account is not credited within two hours of the transaction, or the money is not returned to the sender’s account, then the bank has to pay a penalty. Without waiting whether the customer lodges a complaint on his behalf or not, the bank has to pay a penalty of 2% to the customer’s account for the number of days the bank is late with the RBI’s LAF (Liquidity Adjustment Facility) Repo Rate. Right now the LAF Repo Rate is running at 6.50%. On adding 2% to this, the bank will have to pay a penalty of 8.50%.

What if RTGS transaction failed?

Almost the same rules apply for this type of transaction. Usually, after the transfer is completed from the sender’s bank account, the money is transferred to the beneficiary’s account in real time.

The beneficiary bank has to credit the amount to the beneficiary’s account within the next 30 minutes and send the message, but in case the beneficiary does not receive the amount, the beneficiary bank will either credit the amount within 1 hour of receiving the transaction receipt on the payment interface Money has to be sent to the sender’s bank within or before the end of the RTGS business day, after which the bank sends it back to his account. Here also the bank has to pay the penalty. On adding 2 percent to the 6.50% LAF Repo Rate, the bank will have to pay a penalty of 8.50%.

What if the details of the beneficiary were wrongly given?

If the customer had given wrong account details of the beneficiary, then he can put a written application in the bank regarding this and ask for cancellation of the transaction. You are not trapped in such a situation, for this it is necessary to check the account number and other details very well while doing the transaction.

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Although this step can greatly benefit the customers. In fact, IDFC First Bank has announced Zero Fee Banking on December 17 on savings accounts. With this, charges have been waived on 25 commonly used banking services.

Banking services announced

include cash deposit and withdrawal at branches, third party cash transactions, demand draft, IMPS, NEFT, RTGS, check book, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage etc. Are included. The bank has announced this facility on the occasion of its foundation day on 18th December.

People will get benefits

The bank said that customers maintaining an average monthly balance of Rs 10,000 as well as Rs 25,000 in AMB (Average Monthly Balance) savings account will enjoy these benefits. This will benefit all customers and especially those with low financial literacy who find it difficult to calculate fees and charges, the bank said.

IDFC FIRST Bank 25 ZERO Fee Banking Services.

1. Number of cash transactions (cumulative of deposits and withdrawals) at branches per month.

2. Value of cash transactions at branches (cumulative of deposits and withdrawals).

3. Third-party cash transaction fee at branches (cumulative of deposits and withdrawals).

4. Demand Draft/PO (Issue Fee) – At Bank Location

5. IMPS Charges per Transaction- Outward

6. NEFT Charges per Transaction – Outward (Branch)

7. RTGS Charges per Transaction – Outward (Branch)

8. Check Book Charges

9. SMS Alert Charge

10. Issue of duplicate statement

11. Passbook Charges

12. Balance Certificates (fee per certificate)

13. Interest Certificate (fee per certificate)

14. Closure of Account (from the date of opening of account)

15. ECS Return Charge

16. Stop Payment Charges

17. International ATM/POS Transaction Charges

18. Charges for insufficient balance per ATM transaction

19. Standing Instruction Charge

20. Manager Cheque/Demand Draft Cancellation/Revalidation

21. Photo Verification Fee

22. Signature Verification Fee

23. OLD RECORDS/COPY CHARGES OF PAID CHECKS

24. Address Verification Charges

25. Any delivery returned by courier for negative reasons

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