We all know that SBI is a leading public sector bank with huge customer base. To avoid heavy rushes at bank branches and to encourage digital transactions SBI has decided to charge heavy charges on IMPS Transactions done through bank branches.
So it is somewhat troublesome to the customers who are unaware of digital payments and scared to use online platforms, SBI has to set to make their customers make use of SBI Yono app for secure and faster transactions.
The service charges levying on IMPS Transactions is going to be implemented from February 1st,2022 onwards. So SBI Customers have to bear some “extra charges” if they wish to do IMPS Transactions further with effect from February 1st,2022.
Here are the service charges levying on IMPS Transactions with effect from February 1st,2022 onwards-
| IMPS Transaction Limit | Charges To Be Levied |
| Rupees 1,000 to 10,000 | 2 Rupees+GST |
| Rupees 10,000 to 1,00,000 | 4 Rupees+GST |
| Rupees 1,00,000 to 2,00,000 | 12 Rupees+GST |
| Rupees 2,00,000 to 5,00,000 | 20 Rupees+GST |
If you are using SBI Yono app for doing IMPS Transactions there would be no charges, only transactions done through bank branches have to bear these “Extra Charges”
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