Punjab National Bank (PNB), one of India’s largest public sector banks, has extended a generous festive offer to its customers.
The bank has made certain services completely free for its customers, bringing relief to many.
PNB has announced the removal of service charges on Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT), and Immediate Payment Service (IMPS) for its current account holders.
This means that current account holders can now make online payments without incurring any charges. PNB made this announcement through its social media channels.
RTGS and NEFT Explained
RTGS (Real Time Gross Settlement): RTGS is a real-time electronic funds transfer system that enables users to send large sums of money online.
It is particularly useful for transactions exceeding the transaction and value limits imposed by UPI.
NEFT (National Electronic Fund Transfer): NEFT is another electronic funds transfer mechanism that facilitates online money transfers.
It allows users to send money to any location within the country without any specified minimum or maximum transaction amount.
This gesture from PNB is sure to make online transactions more convenient for current account holders, especially during the festive season.
