Will new bank charges be applied from 20th January ?

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Following message is viral on Social Media/WhatsApp

“*New Bank Charges to be applied*

The charges will be applicable from 20 Jan 2018. All charges reflected without GST. Auto Debit charges will be automatically debited with GST. We have to add GST along with charges which required to debit manually.

(1) Cash withdrawal.
(a) Cash withdrawal upto maximum Rs. 50,000/- allowed only to account holder by self-cheque. Charges is Rs. 10/- per transaction (Auto Debit).
(b) Cash withdrawal upto maximum Rs. 10,000/- allowed to 3rd party holder by cheque. Charges is Rs. 10/- per transaction (Auto Debit).

(2) Cash Deposit – Cash deposit of maximum Rs. 2 lakhs per day in CD / CC / OD and any amount in SB account. 
Charges – 
(a) For SB account upto Rs. 50,000/- per day free. For amount in excess of Rs. 50,000/-, Rs. 2.50/- per thousand or part thereof. Minimum Rs. 50/-.
(b) For CA / CC / OD / Other accounts upto Rs. 25,000/- per day free. For amount in excess of Rs. 25,000/-, Rs. 2.50/- per thousand or part thereof. Minimum Rs. 50/-.

(3) Passbook updation – Rs. 10/- per updation (Auto Debit).
(4) Balance Statement – Rs. 25/- per statement (Auto Debit).
(5) Cheque Book Request – Rs. 25/- per request (Auto Debit).
(6) Signature verification / Photo Attestation – Rs. 50/- per request.
(7) Issue of DD / PO / ECS – Rs. 25/- per request (Auto Debit).
(8) Cheque Deposit – Rs. 10/- per cheque plus speed clearing charges.
(9) Fund transfer (NEFT, RTGS, etc) – Rs. 25/- per request for amount upto Rs. 2.00 lakhs. Rs. 50/- for amount above Rs. 2.00 lakhs (Auto Debit).
(10) Interest Certificate – Rs. 50/- per certificate.
(11) Communication Address / Mobile Number updation – Rs. 25/- per request.
(12) KYC Updation – Rs. 25/- per request.
(13) Duplicate Passbook / FDR Receipt – Rs. 50/- per request.
(14) Request for Internet / Mobile Banking / Insta PIN / Star Token / Password Un-blocking – Rs. 25/- per request for Internet / Mobile Banking and Rs. 10/- per request for Insta PIN / Other requests.
(15) Request for Debit Cards – Rs. 25/- per request (Auto Debit).
(16) Stop Payment Instruction – NO Charges.
(17) Standing Instruction – NO Charges.

*Unfortunately common man is required to pay for all small services that otherwise were free. Just think of the cunning strategy adopted by the Govt. Initially everyone was encouraged to open a Zero Balance Account and now all these charges is it fair???*”

Following images are also viral –

This actually was posted only on on Bank of India website which too has been taken down.

But this was cleared by Rajeev kumar – Secretary Department of Financial Services(DFS),Min of Finance, Gov. of India.

You can read complete story on Economic TImes

Bank shelves plan to levy passbook updation charges

By

Sunil Dhawan

ET Online|

Updated: Jan 12, 2018, 05.58 PM IST
Bank of India has withdrawn its plan to levy charges for services which are currently not charged for.

Following publication of our story earlier this morning, Reuters has carried a report saying that the Bank of India does not have any plan of levying charges on those services which are available free of charges currently.

The report quotes sources as saying, “There were reports in some segments of Social media, Print & Visual media that all free services of

PSBs including Bank of India will be ceased from January 20, 2018. It is hereby clarified that Bank of India does not have any plan of levying charges on those services which are available free of charges currently.”
Subsequently, the bank has removed the link of the document stating the proposed increase in charges from their website. However, our screen shots below show that earlier there was a plan to levy charges on passbook updation and other services.

 

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