With the recent revision in banking service charges by a host of banks, including State Bank of India, HDFC Bank, ICICI Bank, we put some questions to The Banking Codes and Standards Board of India (BCSBI) on how customers are impacted by the host of service charges. Anand Aras, CEO, BCSBI, elaborates to S Vijaykrishnan.
What is the BCSBI’s view on banks revising service charges in recent months? Is it a post-demonetisation phenomenon?
BCSBI is of the view that banks have the right to levy service charges. Service charges are revised periodically by the Banks with the approval of their boards. The only requirement is that they should be reasonable and notified to customers well in time. As per the provisions of the Bank’s Code of Commitment to Customers, any increase in any fee or charge will be notified by the Banks through statements of accounts/ email/SMS alerts/notice board at branches, update on the website one month prior to the revised charges becoming effective.
Do customers really understand the various charges being levied on their bank account and other services?
この記事は The Finapolis の July 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は The Finapolis の July 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
7 Ways to Prevent Text Neck
Our head is heavier at an angle than it is at a neutral position. That means our increasing usage of smartphones for reading, texting, etc is putting undue pressure on our spine
How To Take Your Networking To Next Level
Networking is one of the best ways to use your time
5 Fun Ways To Save Money
There are several simple ways to reduce spending and rack up more cash. Sukanta Kundu lists some interesting ones.
In Search of Higher Returns Amid Falling Rates
As Bank Deposit Rates Fall, Even Conservative Investors Are Switching Assets. Where Can They Go?
National Savings Certificates Help as Interest Rates Fall
National Savings Certificates (NSCs) have been among the most popular tax-saving options for ages. In spite of the advent of market-linked investment products such as equity-linked savings schemes (ELSS), the certificates have retained their charm for certain sections of society. In this column, let us discuss the various facets of this special instrument of investment.
What Drives Us to Invest?
I had made the journey from economics to finance. As part of Keynesian economics, we were taught about the three motives to hold money: the transactions motive, the precautionary motive and the speculative motive; all through my teaching career that remained part of my Keynesian economics. But two decades, later when I immersed myself into the world of investment, I had to develop my own tools to understand the new discipline and make my investors understand the working of their own minds. One night as lay turning on my back, poring over the day’s happenings, suddenly I made a strong connection between what I had studied years back and the problem I was grappling with now: the motives.
Ask The Finapolis
Col. Sanjeev Govila (retd) of Hum Fauji Investments answers readers’ queries on investments, taxation and personal finance. Do you have a question you want answered? Email your question to feedback@thefinapolis.com
Input Tax Credit To Benefit End-customer
Looking at the scale of India, it is reasonable to expect 3-5 years for the system to stabilize
Will GST Really Spike Up Your Bills?
As goods and service providers can claim input tax credit, your net tax bill will reduce say experts
The Bull Run Is Here To Stay
Karvy Finapolis’ event —“Is this the mother of all bull runs?” — evoked a thunderous response from investing public recently in Hyderabad.
