Axis, HDFC, ICICI to charge Rs. 150 after 4 cash transactions

Posted on:03 Mar 2017 09:31:15
Axis, HDFC, ICICI to charge Rs. 150 after 4 cash transactions
03 March 2017 Current Affairs: India’s leading private banks stated that they will charge a minimum of Rs 150 for cash deposits and withdrawals after four free transactions in a month, reviving charges that were kept in abeyance briefly after the government scrapped high-value notes in November.

HDFC, ICICI and Axis banks will calculate the fee aimed at reducing cash dealings at the rate of Rs 5 for every Rs 1,000 transacted or Rs 150, whichever is lower. HDFC and ICICI sources said the fees will be applicable to transactions outside of home branches.

 Both banks define home branch differently HDFC defines it as the branch where an account was opened while ICICI defines it as any branch within the city of the account.There was no clarity on whether the charges will be applicable to ATM withdrawals.
India’s leading private banks stated that they will charge a minimum of Rs 150 for cash deposits and withdrawals after four free transactions in a month, reviving charges that were kept in abeyance briefly after the government scrapped high-value notes in November.

HDFC, ICICI and Axis banks will calculate the fee aimed at reducing cash dealings at the rate of Rs 5 for every Rs 1,000 transacted or Rs 150, whichever is lower. HDFC and ICICI sources said the fees will be applicable to transactions outside of home branches.

 Both banks define home branch differently HDFC defines it as the branch where an account was opened while ICICI defines it as any branch within the city of the account.There was no clarity on whether the charges will be applicable to ATM withdrawals.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 October

19 OCTOBER
NEWS
18 OCTOBER
NEWS
17 OCTOBER
NEWS
16 OCTOBER
NEWS

Current Affairs 2018 September

30 SEPTEMBER
NEWS
29 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS

Current Affairs 2018 August

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS