In the meantime, SBI has denied media stories that it has elevated the service cost on common ATM transactions to Rs 25.
SBI Managing Director (Nationwide Banking) Rajnish Kumar advised information company Bhasha that there was no change within the service fees for ATM withdrawals from regular financial savings accounts.
Kumar mentioned, “If the client has cash in our cell pockets SBI Buddy, he can withdraw it from an ATM. Other than this, the client can now deposit or withdraw cash from the cell pockets or by the Enterprise Correspondent (BC) within the cell pockets. Earlier these amenities weren’t out there. The financial institution will levy a service cost of 0.25 per cent plus service tax for depositing Rs 1,000 in cell pockets by BC. It is going to be minimal Rs 2 and most Rs 8. Additional, for withdrawals as much as Rs.2,000 by SBI Buddy BC, service cost (minimal Rs.6) and repair tax of two.5 per cent of the transaction worth will likely be levied.