A copy of the letter dtd. 04/06/2014 addressed to Reserve Bank of India regarding "Proposed move of Indian banking association for withdrawl of free non-home bank ATM transaction" is posted. We are surprised that RBI instead of considering the relevant point raised therein, had gone ahead allowing Banks with restriction of free ATM transactions to 5 even in their own ATMs. To read the letter dtd. 04/06/2014, please click here:
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I agree with you Mr S k Virmani, RBI is always seeking ways to increase profits to the member banks.Consumer interest is not in their agenda. if ordinary people can be fleeced be it. more
Nov 07
Dear Shri Khan, I think we have to keep in view varied consumers. Secondly reduction in manpower due to automation should balance out the increased cost of infrastructure. ATM card holder is already paying ATM maintenance fee on an annual basis. I have not understood as to what is the meaning of misuse of the facilities if it comes free. more
Nov 03
Nothing comes free and having 5 transactions limit for a month is still fine otherwise there is misuse of the facilities if comes free nd no restrictions. At the end bank do invest in infrastructure and they are here to make profit. In other countries we pay monthly fee to keep even saving account so in India it is still better. more
Nov 03
