India Bank Charges Tender

As per extant guidelines of Reserve Bank of India RBI following basic minimum facilities to the Basic Savings Bank Deposit Account BSBDA are provided free of charge and without any requirement for maintaining minimum balance in the account Deposit of cash at bank branch as well as ATMsCash Deposit Machines CDMs. Receipt credit of money through any electronic channel or by means of deposit collection of cheques drawn by CentralState Government agencies and departments. No limit on number and value of deposits that can be made in a month. Minimum of four withdrawals in a month including ATM withdrawals. ATM Card or ATM-cum-Debit Card.Accordingly as on March 2019 the above facilities are provided to 57.3 crore BSBD accounts including 35.27 crore PMJDY accounts free of charge. In addition to the above banks may provide additional value-added services including issue of cheque book beyond the above minimum facilities which maymay not be priced in non- discriminatory manner subject to disclosure. The availment of such additional services are to made at the option of the customers. However while offering such additional services banks shall not require the customer tomaintain a minimum balance and offering such additional services would also not make BSBD account a non-BSBD Account so long as theprescribed minimum services are provided free of charge by the banks.For accounts other than BSBD accounts as per Reserve Bank of India RBIs Master Circular on Customer Service in Banks dated July 1 2015 banks are permitted to fix service charges on various services rendered by them as per their Board approved policy while ensuring that the charges are reasonable and not out of line with the average cost of providing these services. Banks have been advised to identify basic services and the principles to be adopted followed by them for ensuring reasonableness in fixing such charges. They are also advised to take steps to ensure that customers are made aware of the service charges upfront and changes in the service charges are implemented only with the prior notice to the customers.