Payments Basic

Recently, SBI has reduced the ATM withdrawal Limit. From 31 October 2018, you would be able to withdraw only ₹20,000 in a day from the ATM. Earlier, you could withdraw up to ₹40,000 in a day. This would be the least withdrawal limit among top banks of India. Even the Government banks such as PNB and […]

Our IMPS is the best payment service of the World. It has beaten the payment services of all over the world including the services from the US and China. The USA based Research Firm FIS (Fidelity National Information Service) has given the best rating to the IMPS. The FIS has studied the 40 active real-time […]

This question bothers most IMPS users that how much can money can they transfer in one go with IMPS. What are the IMPS limits in SBI, ICICI Bank, HDFC Bank or other banks? Unlike NEFT, NPCI does have a limit on IMPS transactions. And here, I am going to tell you all about the IMPS […]

The SBI has reduced the charges for IMPS fund transfer but other banks are still charging the high fees. Bank of Baroda is the only bank which does not charge for IMPS fund transfer. In this post, I have told the IMPS charges of 7 banks. I have covered only the big government and Private […]

NEFT and RTGS are the two older ways of fund transfer. These are still used Because It gives some exclusive benefits. But in this post, I would discuss the difference between the NEFT and RTGS. You would learn the different usage of these two methods of payment. I hope, after reading this post you would […]

Today there are many ways to transfer the fund. Each has its merits and demerits. But, the fund transfer limit is the first thing which comes to your mind when you choose a money transfer system. In this post, I would tell you the fund transfer limits of NEFT, RTGS, IMPS and UPI. Fund Transfer […]

Recently the charges of NEFT and RTGS transactions are coming down. Banks are now taking less charge than the RBI schedule. It is happening because another fund transfer method, the UPI or unified Payment interface, is totally free. However, the UPI has an upper limit of fund transfer. Thus sometimes, you have to use the […]

NEFT and RTGS are the fund transfer mechanism. The reserve bank of India manages it. Almost every bank uses this method of fund transfer. The introduction of these two methods has eased the fund transfer. Banks provide NEFT and RTGS facility online and offline as well. For the Offline transaction, you have to visit the […]

Like UPI and IMPS, NEFT is a fund transfer system. Recently this system has also become almost free. This is not an instant payment method, however, It is fast enough. This system is managed by the RBI and almost every big bank participates in this system. Full Form and Meaning of NEFT The full form […]

The government has given further push to the digital transaction in India. It has decided to bear the cost of Merchant Discount rate (MDR) of the debit card payments. Thus, merchant would not be required to pay any transaction fees to the bank. Rather, the government will pay to the banks. The Decision of Free […]

The debit card payment would become cheaper. The RBI has reduced the merchant discount rate for Debit card transactions. It has also changed the way of charging the MDR. Now there is a new structure for the debit card charges. The new rates for these transactions are applicable since January 1, 2018. [P. S. – Meanwhile […]

Thanks to the efforts of the Indian government, digital payments in India are witnessing a boom these days. And to give it a further push, the RBI mandated Bharat Bill Payment System. With UPI, mobile wallets and card payments, we are already able to pay digitally at shops. But with Bharat Bill Payment System, we […]