Faced with a rising no. of customer complaints on excessive charges, RBI has asked the IBA to come up with guidelines on what the reasonable charges should be. Accordingly, IBA has asked its Committee for Customer Service to submit a report. A sub-committee was appointed to look into 27 items categorised as basic transaction services including charges for issuing cheque books and drafts, cheque return, reviving inoperative accounts, issue of duplicate pass books and other such as not maintaining the prescribed minimum balance.
Source: http://www.business-standard.com/india/news/bank-charges-may-be-capped/382306/
BANK CHARGES MAY BE CAPPED
Labels: BANKING N FINANCE
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