Live
- World Intellectual Property Day 2024: Date, History, Significance, and Everything You Need to Know
- Shiv Sena-UBT manifesto assures dignity to all states; ‘no’ to polluting nuclear, refinery mega projects
- IPL 2024: Delhi Capitals sign Gulbadin Naib to replace injured Mitchell Marsh
- Delhi court grants 30-day extension to police to conclude probe in Parliament security breach case
- Cash, liquor, drugs valued at Rs 321 crore confiscated in Punjab
- Gunfight breaks out in J&K's Sopore
- BJP aims to improve tally, Congress plays Vokkaliga card as 14 seats in K'taka go to polls on Friday
- IPL 2024: Have to be prepared for the KKR challenge, says PBKS spin bowling coach Sunil Joshi
- Advocate Dehadrai withdraws defamation suit against Mahua Moitra in Delhi HC
- Man thrashed, thrown off 8th floor of NDMC building in Delhi; 2 held for murder
No service charge applicable on Basic Savings Bank Deposit accounts: Government
Salary hike for outsourcing, contract staff in the offing
Government today said that no service charge is applicable on the 60 crore Basic Savings Bank Deposit (BSBD) accounts, including Jan Dhan accounts. Finance Ministry said, there have been several media reports alluding to a steep increase in service charges by certain Public Sector Banks.
Government today said that no service charge is applicable on the 60 crore Basic Savings Bank Deposit (BSBD) accounts, including Jan Dhan accounts. Finance Ministry said, there have been several media reports alluding to a steep increase in service charges by certain Public Sector Banks.
It said, the charges have not been increased.
In a tweet, the Finance Ministry has said, "There have been several media reports alluding to a steep increase in service charges by certain Public Sector Banks (PSBs)."
The ministry has said, no service charge is applicable on the 60.04 Basic Savings Bank Deposit (BSBD) accounts including 41.13 crore Jan Dhan accounts opened by the poor and unbanked segments of society, for the free services prescribed by RBI.
The Ministry said, Bank of Baroda had made certain changes with effect from November 1, 2020, with regard to the number of free cash deposits and withdrawals per month. The number of free cash deposits and withdrawals has been reduced from five each per month to three each per month, with no change in the charges for transactions in excess of these free transactions.
The Ministry said, Bank of Baroda has informed that in the light of the current COVID related situation, they have decided to withdraw the changes. It said, no other Public Sector Bank has increased such charges recently.
As per RBI guidelines, all banks, including Public Sector Banks, are permitted to levy charges for their services in a fair, transparent and non-discriminatory manner.
Finance Ministry said, other Public Sector Banks have also intimated that they do not propose to raise bank charges in the near future in view of the COVID pandemic.
