Banks told to reconsider charges on cash transactions by government

The Government has urged banks including the private ones to reconsider charges on cash transactions. The government is also said to have told banks to reconsider imposing ATM withdrawal charges above a certain limit, ANI said while quoting sources.

The government is also said to have told the State Bank of India to reconsider its decision on imposing penalty on non-maintenance of minimum balance in accounts from April 1.

The bank levy of Rs 150 on cash transactions in banks after the free transactions had come in for criticism. Banks had kept in abeyance the levy during the demonetisation period of November to March. However starting March 1, banks decided to impose the levy and also start charging for ATM withdrawals after a certain limit.

OneIndia News