• search

FAM welcomes RBI move to appoint committee to examine bank charges

Written by: Staff

Mumbai, Apr 27 (UNI) Federation of Associations of Maharashtra (FAM) has welcomed the Reserve Bank of India (RBI)'s decision to constitute a working group to examine bank charges for various services.

In a statement here today, FAM president Mohan Gurnani said the RBI is contemplating to institute a working group to examine the ATM interchange fee, the processing fee charges for non maintenance of quarterly balance, and other arbitrarily fixed charges by various banks.

There are no standard norms for the service charges, charged by banks. In most instances, the charges are unreasonable and non transparent, Mr Gurnani said while urging the working group to also examine the different interest rates charged by the banks on various credit accounts as ''these are highly discriminatory for different categories of customers''.


For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more