Breaking News - Banks including HDFC Bank, ICICI Bank and Axis Bank today began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.
The charges would apply to savings as well as salary accounts effective from today, leading private sector player HDFC Bank said in a circular.
The bank would also cap the third party cash transactions at Rs 25,000 per day, while cash handling charges would be withdrawn effective today, the circular added.
The move was seen in some quarters as aimed at discouraging cash transactions and furthering the digital payment drive.
For the basic no-frills accounts, maximum four cash withdrawals would continue to remain free and there would be no fees for cash deposits.(READ MORE)
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