Charges for NEFT rationalized by RBI

The RBI rationalized charges that banks can put on customers for transfer of funds through National Electronic Funds Transfer (NEFT). As per the new rate system by RBI, banks can charge not more than Rs 2.50 for funds transfer up to Rs 10,000. Charges for transfers beyond this limit would remain unaffected at Rs 5 for transfers b/w Rs 10,001 to Rs 1 lakh; Rs 15 for transfers b/w Rs1 lakh to Rs 2 lakh and Rs 25 for transfers beyond Rs 2 lakh.

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