State Bank To Charge Every Transaction From June 1st

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The State Bank of India, which is the Country’s largest public sector lender, has issued a statement that they will be charging Rs. 25 for every ATM withdrawal transaction from June 1st.

According to the report, these changes will be applicable to all the SBI card holders. The bank also said that the amount charged for the exchange of damaged notes of Rs. 5000 or above will be increased.

This notification has caused an outbreak in Kerala after they came to know about revised ATM withdrawal charges. Customers, who lined up near the ATMs, expressed their anger.

The CPI-M Lok Sabha member M.B. Rajesh was quoted by a popular news daily saying, “This is outrageous and the central government is cheating the people. Ever since the demonetization began, the Centre has been bullying people. This is going to be taken up in and out of parliament very strongly.”

This move has been slammed widespread and is being called ‘anti-people policy’ of the central government. This move comes after the monthly minimum balance has been increased. The revised savings for metro, urban, semi-urban and rural areas is respectively required to be Rs 5,000, Rs 3,000, Rs 2,000 and Rs 1,000. This balance is mandated to avoid the suspension of the accounts after a certain period.

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