The central government has put a stop to speculation on the part of some public sector banks to increase service charges for banking facilities. The Finance Ministry has put some facts before the people. The central government said that no service charges are charged on basic savings accounts over 60 crore basic savings bank deposits.
The central government has clearly stated that no service charges are levied by the bank for 41.13 crore Jan Dhan accounts opened for the poor and those without banking services. Banks have not increased the service charges on regular savings account, current account, overdraft account and cash credit account.
However, from November 1, 2020, Bank of Baroda has made some changes in the rules regarding cash deposits and withdrawals. The bank has lowered the deposit and withdrawal limit from five to three at no charge. However, considering the situation in the country after Kovid-19, the bank has withdrawn this change. RBI said that the levy charge that banks will take will be clear, transparent and non-discriminatory. Public sector banks have been given clear instructions that in view of the corona, banks should not charge any service charges from the customers in the coming times.
The central government has put a stop to speculation on the part of some public sector banks to increase service charges for banking facilities. The Finance Ministry has put some facts before the people. The central government said that no service charges are charged on basic savings accounts over 60 crore basic savings bank deposits.
The central government has clearly stated that no service charges are levied by the bank for 41.13 crore Jan Dhan accounts opened for the poor and those without banking services. Banks have not increased the service charges on regular savings account, current account, overdraft account and cash credit account.
However, from November 1, 2020, Bank of Baroda has made some changes in the rules regarding cash deposits and withdrawals. The bank has lowered the deposit and withdrawal limit from five to three at no charge. However, considering the situation in the country after Kovid-19, the bank has withdrawn this change.
