04 March 2017

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SBI to charge Cash Deposits from April why SBI decided to charge cash deposits

SBI to charge Cash Deposits from April why SBI decided to charge cash deposits

SBI State Bank of India, the country’s largest bank national bank , has revised service charges on various transactions, including cash deposits and for failing to maintain monthly average balance in their savings accounts. The charges will be applicable from April 1, 2017.

While three cash deposit transactions will be free in a month, beyond three transactions the bank will charge Rs 50 plus service tax for each transaction.

In the case of ATM transactions, after the permissible number of free transactions, SBI will charge Rs 20 (plus service tax) per transaction.

The bank has also imposed service charge for failure in maintaining monthly average balance (MAB) in metro, urban and rural centres.

For metro, failure to meet Rs 5,000 balance will attract Rs 50 charge for 50 per cent shortfall, Rs 75 for shortfall between 50-75 per cent and Rs 100 for 75 per cent or more.

In urban centres, failure to meet Rs 3,000 MAB will attract Rs 40 service charge, Rs 60 for 50-75 per cent shortfall and Rs 80 for 75 per cent or more.

SBI has also announced charges for issuing cheque books, cheque collection, stop payments, issuing certificates, bill collection and NEFT and RTGS charges.

SBI has also revised charges for current accounts as well. For debit cards, SBI will charge an annual maintenance fee of Rs 125-300 depending on the card’s category. The number of free ATM transactions will be three in metros and five in other centres.

Private Banks it’s the private business they can do what they want to do.
On March 1, HDFC Bank, ICICI Bank and Axis Bank have started charging a specific transaction amount after a certain number of cash transactions

Hope Maharashtra CM Devendra will see that Axis Bank drops its plan otherwise Government of Maharashtra needs to shift all banking business to Bank of Maharashtra or any other national bank.

State Bank of India is the national bank of India controlled by government of India that is BJP and Prime Minister Modi.

Banks are not ready to reveal the names of largest loan defaulters.
Why don’t banks charge them more.

Instead of shaming and naming the corrupt business houses and sending them to Jails SBI has decided to charge more to poor and middle class citizens of India.

Why SBI has decided to charge service charge?
Reason is simple SBI is finding it difficult to recover the loans which SBI staff has given to business houses. To increase the income now SBI has decided to charge the customers
Once SBI becomes rich what will happen Banks will again start to write off loans paid to rich business houses.

Remember digital payments or mobile banking or net banking has nothing to do with these services. Banks are just fooling the customers on the name of digital banking.

How can BJP government and RBI allowed SBI to charge more?

Hope PM Modi will see that SBI cancels the plan to charge more for depositing money and any attempt to increase service charges.

If PM Modi fails I am sure this will become one of the top mistakes made by the BJP and will suffer in 2019 Lower House elections.

Tweet with #StopSBICharge

Reality views by sm –

Saturday, March 4, 2017

Tags – SBI National Bank Service Charge More


Jamshed Azmi March 05, 2017  

Bahut hi bura feasla hea. Is sarkar ne banking terror ko khoob badhawa diya hea. Yeh UPA se bhi buri sarkar hea.

HindIndia March 08, 2017  

Yes, very well said .... on ground level need to change this.