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All ATM withdrawals not chargeable, SBI clarifies after furore in Kerala

the charge of Rs 25 is applicable only for withdrawals from SBI Buddy through ATMs.

IANS  |  Mumbai/Thiruvananthapuram 


Amid a public outcry in over a of (SBI) announcement levying charges on ATM withdrawals from June 1, the largest public lender on Thursday clarified that the charge of Rs 25 is applicable only for withdrawals from Buddy through ATMs.

"Rs 25 per transaction charge is applicable only for mobile wallet app Buddy using ATM. This is applicable only for State Buddy customers," the said here in a statement.

The clarification comes after the in a notification indicated that all will be charged a fee of Rs 25, which was later replaced with the corrected notification.

The said that the number of free withdrawals from ATMs remained unchanged.

Jan-Dhan account holders with the can avail of four free withdrawals in a month from ATMs.

Normal savings accounts holders will continue to get eight free ATM transactions (five from ATMs plus three from other ATMs) in metros and 10 free transactions in non-metros (five from ATMs plus five from other ATMs).

Earlier in the day, Finance Minister Thomas Issac told the media that the only reason he could see for this "mad" new rule was that the was faced with mounting non-performing assets (NPAs) to the tune of Rs 1.67 lakh crore.

"This is height of madness and irresponsibility. It would be interesting to find out the list of NPAs of the .. One wouldn't be surprised if the majority (of defaulters) are found to be corporates."

"Just take a look at their (SBI) profits, it has dramatically come down. The charges have been levied to bring down their losses. This is something that even private sector banks would not dare think of doing," said Issac.

CPI-M's Lok Sabha member M.B. Rajesh said, "This is outrageous and the central government is cheating the people. Ever since the demonetisation began, the Centre has been bullying people. This is going to be taken up, both within and out of Parliament very strongly."

The move was also slammed by CPI-M Lok Sabha member M.B. Rajesh and popular film personality Shobi Thilakan, who called it an "anti-people policy of the Centre".


First Published: Fri, May 12 2017. 10:10 IST