Private Banks to Charge Huge on Cash Transactions

March 02, 2017 11:11
Private Banks to Charge Huge on Cash Transactions

Before the common man could recover from the shock of currency crisis, here comes one more shock as the private banks including HDFC Bank, Axis Bank and ICICI Bank started charging Rs 150 as minimum amount per transaction for all the cash withdrawals and deposits after crossing the limit of four free transactions in a month. This will be applicable from March 1st and the charges will be applicable for savings as well as salary accounts informed a source.

Leading private sector bank HDFC informed the news through a circular and the banks also will cap all the third party transactions at Rs 25000 per day. With Prime Minister Narendra Modi aiming for cashless transactions and digital payments, this is a huge move from the private sector banks.

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Tagged Under :
Cash Transactions  Private Banks