BANKING AFFAIRS

Detailed explanation-1: -30 Lakhs per transaction and Rs. 75 lakhs per day. Customer can apply for Debit Card and manage other card activities like: Set daily debit card limit for ATM transactions.

Detailed explanation-2: -For IMPS, the transaction limit set by the Bank of Baroda is Rs. 50, 000 per day and Rs. 2.5 lakhs per month. 7.

Detailed explanation-3: -IMPS service is used to transfer funds within INDIA with denominations of INR only. As per NPCI circular, the maximum amount that can transferred is Rs 2 Lakhs per transaction. Any transaction more than Rs 2 Lakhs will not get processed and will be credited back into your account.

Detailed explanation-4: -2 lakhs is done through IMPS. If such transactions go into a pending state, as per NPCI guidelines, the funds would be either reversed or credited to receiver’s account within 24 hours failing which, our team would take this issue up with the receiver’s bank. In such cases reversal could take a maximum of 3 days. 5.

Detailed explanation-5: -Amount Transfer Limit on NEFT One of the major reasons that people choose NEFT to transfer funds from one bank account to another is that RBI levies absolutely no NEFT amount transfer limit. This means that there is no minimum or maximum amount required to make transactions through NEFT.