HDFC Bank increases cash transaction fees on savings a/cs

Posted on:04 Feb 2017 18:11:56
HDFC Bank increases cash transaction fees on savings a/cs
04 February 2017 Current Affairs: In a bid to discourage cash transactions, the country’s second-largest private sector lender HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash.

 HDFC Bank has decided to steeply raise the charges on certain transactions, capping cash component in others and also introducing charges on certain transactions from 01st March 2017.

The bank has capped the third-party transactions at Rs. 25,000 a day, reduced the number of free cash transactions at branches to four from five earlier and also raised the fee for non-free transactions by a steep 50 per cent to Rs.150. 

Earlier, it used to allow Rs. 50,000 cash transactions, both withdrawals and deposits per day, the official said, adding the review is only for salary and savings accounts.

 
In a bid to discourage cash transactions, the country’s second-largest private sector lender HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash.

 HDFC Bank has decided to steeply raise the charges on certain transactions, capping cash component in others and also introducing charges on certain transactions from 01st March 2017.

The bank has capped the third-party transactions at Rs. 25,000 a day, reduced the number of free cash transactions at branches to four from five earlier and also raised the fee for non-free transactions by a steep 50 per cent to Rs.150. 

Earlier, it used to allow Rs. 50,000 cash transactions, both withdrawals and deposits per day, the official said, adding the review is only for salary and savings accounts.

 

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

16 OCTOBER
NEWS
15 OCTOBER
NEWS
14 OCTOBER
NEWS
13 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