Banks in India|Bank Jobs|Bank Recruitment|Banking News,Information & Articles|Banking in India|Bank Loan|Bank Employment|Bank Interest
      Recent News :
Branch ATM Space:Branch ATM Space News:

All ATM withdrawals not chargeable, SBI clarifies after furor in Kerala.

By: Arsh , Place: ,  Update:13 May 2017

Amid a public outcry in Kerala over a State Bank of India (SBI) announcement levying charges on ATM cash withdrawals from June 1, the largest public lender on Thursday clarified that the charge of Rs. 25 is applicable only for withdrawals from SBI Buddy through ATMs.

"Rs 25 per transaction charge is applicable only for mobile wallet app SBI Buddy using ATM. This is applicable only for State Bank Buddy customers," the bank said here in a statement.


The clarification comes after the SBI in a notification indicated that all ATM withdrawals will be charged a fee of Rs 25, which was later replaced with the corrected notification.

The bank said that the number of free withdrawals from ATMs remained unchanged.

Jan-Dhan account holders with the SBI can avail of four free withdrawals in a month from ATMs.

Normal savings bank accounts holders will continue to get eight free ATM transactions (five from SBI ATMs plus three from other bank ATMs) in metros and 10 free transactions in non-metros (five from SBI ATMs plus five from other bank ATMs).

Earlier in the day, Kerala Finance Minister Thomas Isaac told the media that the only reason he could see for this "mad" new rule was that the SBI was faced with mounting non-performing assets (NPAs) to the tune of Rs 1.67 lakh crore.

"This is height of madness and irresponsibility. It would be interesting to find out the list of NPAs of the SBI... One wouldn't be surprised if the majority (of defaulters) are found to be corporates."

"Just take a look at their (SBI) profits, it has dramatically come down. The charges have been levied to bring down their losses. This is something that even private sector banks would not dare think of doing," said Isaac.

CPI-M's Lok Sabha member M.B. Rajesh said, "This is outrageous and the central government is cheating the people. Ever since the demonetization began, the Centre has been bullying people. This is going to be taken up, both within and out of Parliament very strongly."

The move was also slammed by CPI-M Lok Sabha member M.B. Rajesh and popular film personality Shoji Thilakan, who called it an "anti-people policy of the Centre".



 Related News
All ATM withdrawals not chargeable, SBI clarifies after furor in Kerala. (13 May 2017)
CLC Delhi meeting held, next CLC meeting on 6 January at Mumbai on 7th January S.. (05 Jan 2015)
Bank Branch ATM Space Required by banks in India: View and Apply (07 Aug 2014)
Branch Space required by Central Bank of India at Firozabad District in Uttar Pr.. (29 May 2013)
Branch Space required by State Bank of India at Ahmadabad District in Gujarat St.. (25 May 2013)
 Most Popular News
Bank Jobs : Apply Date and Recruitment Test Exams in 2014-2015 (02 Aug 2015)
Bank Branch ATM Space Required by banks in India: View and Apply (07 Aug 2014)
Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India (02 Apr 2015)
Gratuity hike effective from 24.05.2010 : Gazette Notification (31 May 2010)
Clerical Cadre Common Written Exam, CWE 2011-2012 IBPS Notification: Online Appl.. (22 Aug 2011)
0 Recent Comments
0 More Comments
Your Name :
Email :
Comment :
click for new code
Security Code :
News Category
Partner Sites:
@ Copyright 2007-2013 All rights reserved | Best viewed with 1024x768 pixel resolution with MSIE |