By The Finance Ministry on Tues aforesaid there has been no increase in commission charges by any public sector bank when Bank of Baroda set to withdraw changes created with relevancy the quantity of free money deposit transactions during a checking account per month.
Bank of Baroda withdraws order
Bank of Baroda has set to withdraw changes created with relevancy the quantity of free money deposit transactions during a checking account per month
Although, as per run norms, all banks square measure allowed to levy charges for his or her services, primarily based upon prices concerned, different PSBs have additionally intimated they don’t propose to lift bank charges within the close to future seeable of the Covid pandemic
Bank of Baroda had created sure changes with impact from Hallowmass, 2020, with relevancy the quantity of free money deposits and withdrawals per month, a Finance Ministry statement aforesaid.
The number of free money deposits and withdrawals has been reduced from 5 every per month to a few every per month, with no amendment within the charges for transactions in more than these free transactions, it said.
“Bank of Baroda has since up on that within the light-weight of this Covid-related scenario, they need set to withdraw the changes. Further, no different PSB has redoubled such charges recently,” it said.
Although, as per run pointers, all banks, together with public sector banks (PSBs), square measure permissible to levy charges for his or her services during a honest, clear and non-discriminatory manner, primarily based upon prices concerned, different PSBs have additionally intimated that they are doing not propose to lift bank charges within the close to future seeable of the Covid pandemic, it said.
With relevancy Basic Savings monetary fund (BSBD) accounts, it said, no service fee is applicable on the sixty.04 large integer such accounts, together with forty one.13 large integer Jan Dhan accounts opened by the poor and unbanked segments of society, for the free services prescribed by run. — PTI
