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State Bank of India, India’s largest public sector bank, provides various services to its customers from time to time.
One of the most important of them is the IMPS transaction. It allows you to send money seven days a week without any restrictions. This is the best facility for sending and receiving money instantly.
In this context, SBI Bank has announced a new change in IMPS transactions from February 1.
Accordingly the IMPS transaction limit has been increased from 2 lakhs to 5 lakhs. There is a charge for IMPS transactions made through banks but not for transactions made through digital sites.
Under the new rules, which will come into effect from February 1, there will be no charge for transactions between Rs 1,000 and Rs 2 lakh. But for transactions between Rs 2 lakh and Rs 5 lakh, a fee of Rs 20 will be charged
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