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Government denies any move to discontinue free banking services

Author: IANS/Thursday, January 11, 2018/Categories: Banking & Financial Services

Government denies any move to discontinue free banking services

New Delhi - Describing media reports about discontinuing free banking services in the country from January 20 as being false, the government on Wednesday urged people not to pay heed to such "baseless rumours".

Media reports had appeared earlier saying all free services of public sector banks would be discontinued from January 20.

"No proposal by banks to discontinue free services from 20th January. Pure Rumours. Pl Ignore, advises Indian Banking Association clarifying that rumours in section of social media are baseless and no such blanket removal. @finmin@pmoindia@PIB@ANI," tweeted Financial Services Secretary Rajeev Kumar.

The Indian Banks' Association (IBA) also denied that such a move was in the offing. 

"There is neither a move by banks for a blanket removal of free services nor such a thing is being contemplated," said a statement from the IBA Chief Executive's office in this regard. 

"However, banks, looking at their commercial and operational costs, would constantly examine and revise charges as the case may be," the statement added.

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rajyashree guha

IANS

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