Free services of public sector banks not being discontinued -Governance Now

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.

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