Free services of public sector banks not being discontinued

There is neither move by banks for such a blanket removal of free services nor such thing is being contemplated, said Indian Banks’ Association

GN Bureau | January 11, 2018


#Public Sector Banks   #PSBs   #Indian Banking Association   #Banking  

The free services of public sector banks are not being discontinued, said a top official.

There were online reports that said all free services of public sector banks would be discontinued from January 20.

“No proposal by Banks to discontinue free services from 20th January. Pure Rumours. Pl Ignore , advises Indian Banking Association clarifying that rumours in section of social media are baseless and no such blanket removal,” tweeted Rajeev Kumar, secretary, department of financial services, ministry of finance.

The Indian Banks’ Association said: “There are reports in some segments of social based on misinformed communications and spreading false information that all the free services of public sector banks will be ceased by January 20, 2018. In addition, there is neither move by banks for such a blanket removal of free services nor such thing is being contemplated. However, banks looking at its commercial and operational coasts would constantly examine and revise charges as the case may be.”

“It is clarified by IBA that these rumours are baseless and false. Public should be careful and should not get misled by such messages. Such news are pure rumours and there are no such fresh RBI instructions/guidelines on this,” it added.

 

 

Comments

 

Other News

Uday Kotak on history, Indian economy, growth and more

Pathbreakers: How 10 Visionary Leaders Transformed India by award-winning journalists  By Sucheta Dalal and Debashis Basu Rupa Publications, 304 pages, Rs 695  

₹5,000 crore saved from suspected financial fraud

In a significant gain for citizen protection in the digital economy, the Department of Telecommunications (DoT) has helped prevent suspected cyber fraud losses of more than ₹5,000 crore through its Financial Fraud Risk Indicator (FRI) within fifteen months of its launch on May 22, 2025. This money did

Capital acquisition proposals worth Rs 1.10 lakh crore for defence forces cleared

The Defence Acquisition Council (DAC), under the chairmanship of Raksha Mantri Rajnath Singh, on Monday accorded Acceptance of Necessity (AoN), that is, in-principle administrative approval to various acquisition proposals of the defence forces at an estimated cost of about Rs 1,10,000 crore.

How Rafi, Raj Kapoor helped pave the way for a great uranium deal

There`s a certain moment in diplomacy that`s too personal to be captured in a communiqué, too small to make the front page, but more revealing than the front page. This week, prime minister Narendra Modi reached Tashkent and, amid the pomp of state visits, managed to evoke the old Bollywood tunes

Distinguishing Fish 1 and Fish 2: The pragmatism behind India’s WTO ratification

 India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter