SBI service charges revised from September 1; check details here

Country’s largest lender, State Bank of India (SBI) has rationalized their export related service charges. The revised charges are effective from September 1, 2019. The lender has done this to improve the ease of doing business and provide clear visibility of cost structure to exporters.

While revising the charges, SBI has taken into consideration the views and representations from various export promotion councils.

The revised service charges will be payable upfront once in a year as against existing practice of collecting multiple charges for every transaction.

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The bank said that this will result in bringing about operational conveniences to the exporters.

SBI also expects that the revised charges will help the exporter community at large and will help in improving the exports.