Banks not to levy operational charges on Jan Dhan Accounts

Many major banks decide not to levy operational charges on Jan Dhan Accounts.

New Delhi : Charges on deposits and withdrawals of funds by some banks will not be applicable to the Jan Dhan accounts and basic savings bank accounts.

Banking sources said ICICI Bank is not levying charges on the basic savings bank deposit account (BSBA) and Jan Dhan accounts.

Several major banks (SBI, BOB, PNB) have also not levied charges on Jan Dhan accounts and sources say some media reports to this effect are false.

Bank of Baroda is also not levying charges on debit in the Jan Dhan Accounts. The bank has, as on date, not levied any charges for any debit to such accounts. The charges on the requirement of maintaining a minimum balance in such accounts are also not applied. The bank is adhering to the instructions of the RBI.

On the issue of levy of different charges on various accounts, including loan accounts, as reported in some media reports, the charges are applied as per the industry practice and are transparent, banking sources said.

The bank has confirmed that they do not propose to levy any additional charges (apart from the existing ones) as being suggested in some media reports.

“The bank is, however, contemplating revision of its service charges and will inform the public after seeking internal approvals,” a source said.

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