SMS services Charges: Big news is coming out for bank customers. Private sector banks have looted lakhs of crores of rupees from the customers in the last few years. Now the secret of the dark deeds of the banks has been revealed in the Parliament.
HR Breaking News (New Delhi). If you have an account with any bank, then you must read this news. Public and private sector banks have recovered thousands of crores of rupees from customers in five years.
This money has been collected by the banks from the customers in the last five years for not being able to do SMS, Minimum Balance Maintenance and for extra ATM transactions. In five years from the year 2018, a total of Rs 35,587 crore was recovered from the banks in fines. Out of this, the largest amount of Rs 21,044.04 crore was taken as penalty by banks for not maintaining minimum balance since 2018.
Information given in response to a question in the Rajya Sabha
Union Minister of State for Finance Bhagwat Karad gave this information in response to a question in the Rajya Sabha. Apart from this, apart from public sector banks, private sector banks have spent Rs 8,289.32 crore for additional ATM transactions and Rs 6,254.32 crore for providing SMS services. Prominent private banks include Axis Bank, HDFC Bank, IndusInd Bank, ICICI Bank and IDBI Bank.
RBI had issued circular
In order to regulate the charges levied by banks, RBI has issued a Master Circular on ‘Customer Service in Banks’ on July 1, 2015. A provision has been made in this that banks are allowed to decide the penalty for not keeping the minimum amount in the account. RBI, through a circular, asked banks to ensure reasonableness and uniformity in charges for sending SMS alerts to customers.
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