SBI announces temporary waiver of charges on transactions in Kerala

first_imgSHARE SHARE EMAIL COMMENT flood Published on State Bank of India on Saturday announced a temporary waiver of various charges and fees on banking transactions in flood ravaged Kerala. The waiver extends to processing fees for any loan relating to flood relief measures, charges for issuing duplicate passbooks, ATM cards, cheque books and late payment fees on EMI.Further, all charges on remittances to the Chief Minister’s Distress Relief Fund (including NEFT/ RTGS remittances from other banks) and charges on non-maintenance of minimum balance from proceeds of relief fund provided by the Government and agencies, are to be put on hold. If any such charges are recovered, the same would be refunded. India’s largest bank has also announced relief measures to support the flood affected people: Xpress credit to existing account holders with relaxed norms (for one month’s consumption), and deployment of cash @ PoS to meet daily cash requirements across the state (customers will be able to avail of Rs 2,000 to meet expenses for basic needs). As part of the relief measures, the bank said individuals who have been displaced and lost personal documents can open small accounts with a photograph and signature/ thumb impression. “All efforts are being made to restore flood-affected ATMs and branches, to make them operational at the earliest. The bank is also working on the possibility of starting operations through temporary premises after taking stock of the overall situation,” it said. SBI, in a statement, said it has made a commitment of Rs 2 crore to the Chief Minister’s Distress Relief Fund (CMDRF) for the flood affected regions in Kerala. In addition, the bank is encouraging its 2.7 lakh employees to make contributions to the best of their capacities. To support this initiative, the bank would match the amount collected by its employees and donate the same to CMDRF. Kerala August 18, 2018 SHARE COMMENTS State Bank of India natural disasterslast_img

Leave a Reply

Your email address will not be published. Required fields are marked *