Banks become greedy day by day more due to inflation. Banks increased
charges or levy charges on such services which are used to be free earlier. This
includes looking saving account either by SMS or internet.
Some banks which used to offer free debit cards now levy charges and other
increased the charges. Also some banks increased charges for cash deposit or
issuing a demand draft.
This all make banking costlier and it will affect more to a common man.
This all because of high cost operations of the banks and low income
generation. Thus as per banks, there is no option left to them but to increase
or levy charges on the services.
Now the account holder needs to pay some charges for getting SMS by the
bank on debit or credit entries as well as to know the balance of the accounts.
Banks say that the cost of SMS has increased 5 times compare to past as
well as telecom companies have increased the cost of SMS. So they pass it on
customers.
Some banks like Axis bank and ICICI bank charge 15 Rupees per quarter
whereas Kotak Mahindra bank charges 120 Rupees per year.
PNB has revised the cash deposit charges at all branches within the same
clearing centre and city. From April 2, customers are being charged Re 1 per Rs
1,000 or a minimum of Rs 25 per transaction on select products such as savings
account. Monish Shah, Senior Director at Deloitte India, said though banks
started with free services to remain competitive, there is now an increasing
emphasis on operational efficiency.
“There is a realization that being value driven is also important.
Moreover, there is a segment of customers willing to pay for these services.”
Tags-bank cahrges,sms charges,internet charges by banks
1 Comments
DOES the GOVT pay for "so many visits by auto/taxi,etc." for visits to BANKs especially Nationalised Banks and to IT/SALES TAX DEpt,Courts etc.?
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