13.05 (1.23%) State Bank of India (SBI) has reportedly decided to remove the charges on IMPS (Immediate Payment Service) transactions on internet banking (INB)/ mobile banking service (MBS) with effect from August 1, 2019. While it will offer IMPS free of charge on INB/MBS, the bank has revised the same on IMPS transactions at branches.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.