SC: Confirmation of an Auction Sale Does Not Bar Judicial Scrutiny of Reserve Price Valuation  ||  Supreme Court Sets Aside Conviction of Four Men in a 1998 Gang Rape Case  ||  Supreme Court: Privy Purse Privileges of Princely Rulers are Not Enforceable Legal Rights  ||  Delhi HC: Repeated Court Summons May Distress and Re-Traumatize Child Sexual Assault Victims  ||  Jammu and Kashmir High Court: Labeling Someone as a Terrorist Associate Amounts to Defamation  ||  Delhi HC: Setting Aside or Altering a Judge’s Order by a Higher Court Doesn’t Affect Their Integrity  ||  Delhi High Court: Accused Cannot be Faulted For Smart Replies; Interrogator Must be Sharper  ||  Supreme Court: Belated Jurisdictional Challenge Impermissible After Participation in Arbitration  ||  Supreme Court: Failure to Prove Specific Overt Acts of Each Unlawful Assembly Member Not Fatal  ||  Supreme Court: Parental Salary Alone Cannot Determine OBC Creamy Layer Status    

Charges on digital transactions- (Press Information Bureau) (11 Apr 2017)

MANU/PIBU/0395/2017

Banking

Digital financial transactions are a part of the Government's strategy to create histories of transactions, including the associated credit, and thereby enable small and micro enterprises to access formal credit, improve tax compliance, and mainstream financial savings into the banking system, which will help mobilise such savings for economic growth.

All payment systems including currency entail costs, which are borne among transacting parties and payment service providers, and the cost structures of various systems differ. Payment systems also differ in the advantages they offer to transacting parties. E.g., digital transactions can be made without having to access cash, and they offer an opportunity to make payments anytime and from anywhere, without loss of interest income. Transacting parties select a payment system not only on the basis of cost but keeping in mind such advantages as well.

State Bank of India has apprised that three cash deposit transactions at branches are available to savings bank accountholders free of charge. Thereafter, a charge of Rs. 50 plus service tax per transaction is to be levied. In addition to the free cash deposit transactions at branches, accountholders can also deposit cash using ATM/debit card, into the card-linked account, at cash points (Cash Deposit Machines / Cash Recyclers), any number of times, free of charge.

Tags : DIGITAL TRANSACTIONS   CHARGES   LEVY  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved