As per the recent reports, customers will now have to pay a good some of money after every 4 ATM transactions and charges would also be levied for exchange of old and sullied notes above Rs 5,000.
The revision in service charges, additions and modifications will come into effect from June 1, 2017.
According to a latest circular placed by SBI, four withdrawals in a month including ATM withdrawals will be free of charges.
However, beyond 4 withdrawals you will have to pay the following charges
At Branch: Rs 50 + Service Tax per transaction
At other bank ATMS: Rs 20 + Service Tax per transaction
SBI ATMs: Rs 10 + Service Tax per transaction
Here are the service charges for exchange of soiled/imperfect notes
|Value of Notes||New Charges|
|Upto 20 pieces and value upto Rs.5,000/||Nil|
|More than 20 pieces and or value more than Rs 5,000||Rs 2 per piece on entire tender + ST (Service Tax)|
|Value above Rs 5,000||Rs 2 per piece or Rs 5 per 1000 + ST whichever is higher on entire tender @|
IMPS Fund Transfer Charges through INB/MB/UPI/USSD
|Upto Rs 1 Lakh||Rs 5 +ST|
|Above Rs 1 Lakh upto Rs 2 Lakh||Rs 15 +ST|
|Above Rs 2 Lakh upto Rs 5 Lakh||Rs 25 +ST|
Issue of Cheque book
10 Leaf Cheque Book at Rs 30 + ST
25 Leaf Cheque Book at Rs 75 + ST
50 Leaf Cheque Book at Rs 150 + ST
Reactions have been coming in on the issue –
“This is outrageous and the central government is cheating the people. Ever since the demonetisation began, the Centre has been bullying people. This is going to be taken up in and out of parliament very strongly,” said CPI-M Lok Samember M.B. Rajesh.
While famous film personality Shobi Thilakan called it an “anti-people policy of the Centre”. “The SBI has turned out to be worse than the local money lenders and is out to fleece the common man. There has to be a public outcry against this new policy,” quoted Thilakan.
Tell is in the comment section about your opinion on the same.