Pune, 22nd January 2022: State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) have decided to change a few of their rules regarding check payments, transactions, etc. The new rules will be effective from February 1, 2022.
Bank of Baroda has decided to make some changes in the rule related to the check clearance rule. According to the information given by BoB, verification will be required for check payment from February 1. If there is no confirmation, the check can also be returned. The bank appealed to their customers that the customers should take advantage of the facility of a positive pay system for CTS clearing.
State Bank of India has made changes regarding money transfers. As per the SBI website, the bank has added a new slab of Rs 2 lakh to Rs 5 lakh on IMPS transactions with effect from February 1, 2022. From next month, the charges for sending money through IMPS from the bank branch will be Rs 20 plus GST.
Punjab National Bank is going to change a significant rule from February 1. According to PNB, if any instalments or investments fail due to lack of money in the debit account, then an amount of Rs 250 will have to be paid for it. Earlier in case of a debit failure, Rs 100 was charged. If the demand draft is cancelled, an amount of Rs 150 will have to be paid. Earlier only 100 rupees was charged for this.
