1. SBI levies Rs 25 charge on cash withdrawals from State Bank Buddy using ATM

SBI levies Rs 25 charge on cash withdrawals from State Bank Buddy using ATM

State Bank of India, India’s largest bank, has announced that charges would be levied on cash withdrawals from State Bank Buddy using ATM. The charges would be Rs 25 per transaction.

By: | Updated: May 11, 2017 5:27 PM
A public outcry erupted in Kerala after the State Bank of India (SBI) announced that charges would be levied on all cash withdrawals from its ATMs.

State Bank of India, India’s largest bank, has announced that charges would be levied on cash withdrawals from State Bank Buddy using ATM. The charges would be Rs 25 per transaction. Charges would also be levied for exchange of old and sullied notes above Rs 5000. “This is outrageous and the central government is cheating the people. Ever since the demonetisation began, the Centre has been bullying people. This is going to be taken up in and out of parliament very strongly,” said CPI-M Lok Samember M.B. Rajesh.

A public outcry erupted in Kerala after the State Bank of India (SBI) announced that charges would be levied on all cash withdrawals from its ATMs from June onward. Popular film personality Shobi Thilakan called it an “anti-people policy of the Centre”. “The SBI has turned out to be worse than the local money lenders and is out to fleece the common man. There has to be a public outcry against this new policy,” said Thilakan.

Customers spotted in front of an SBI ATM here also expressed anger. “The Centre has cheated people and it has to be seen from the perspective that they did this very tactfully because Kerala’s own bank (State Bank of Travancore) has been merged with the SBI. The people who banked with SBT have now become SBI customers and now they are at the receiving end,” said a retired teacher, after withdrawing money from the ATM.

Another angry SBI customer from Kottayam said barring the lone Bharatiya Janata Party (BJP) legislator in the 141 member Kerala assembly, all others strongly opposed the merger and passed a resolution to this effect.

“This was bound to happen and these are measures to pick the pockets poor people. We wish to know what the state BJP leaders have to say on this. There should be mass protest in Kerala against the SBI,” said the angry SBI account holder. Of the 880 SBT branches in Kerala, more than 400 were closed and at present there are over 800 SBI branches in the state. State Bank of India, India’s largest bank, has already done away with the minimum balance criteria for savings bank accounts a few days back.

  1. K
    K Thukaram
    May 20, 2017 at 9:35 am
    How about free minimum withdrawals? If people go and withdraw from bank daily on withdrawal slips, can they manage? Very foolish. As it is they are charging for SMS info, DDs etc.
    Reply
    1. Fani Bhusan Das
      May 13, 2017 at 10:50 am
      This must be painful for all customers to pay the charged amount against the ATM with drawls of their own money. Govt. should consider on the issue for the benefits of the customers concerned .
      Reply
      1. S
        ShankarV
        May 12, 2017 at 6:21 pm
        SBI is planning to recover the 9000 crore loss to vijay Mallya from the common people like us... Guys we shouldn't accept this... we should oppose this. We should start the protest
        Reply
        1. S
          ShankarV
          May 12, 2017 at 6:19 pm
          This is highly unacceptable ... this is the worst cheating the government is doing to the people... what Modi has got to say about this?
          Reply
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            Arun
            May 12, 2017 at 2:46 pm
            all banks are fraud.. PM always thinking high cl people
            Reply
            1. A
              anonymous
              May 12, 2017 at 1:37 pm
              Yes, BJP Government's demonetization has brought forth lots of new problems for the common man, the first and formost is that banks have started to implement new rules without the permission of RBI(earlier too I faced such a problem wherein banks started collecting Rs.5 for each and every sms but I forced the banks to reverse it since it did not have RBI approval, moreover now RBI and Government is turning a blind eye hence banks all over India are now starting like Mobile Companies, i.e. white color theft with or without rules like the mobile companies have been doing over the past 10 years, Its high time that common man come together and ensure that such white color theft should be dealt with firmly
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                Nikhil Joshi
                May 12, 2017 at 9:19 am
                Trying to loot common man , this is outrageous. Private Sector banks are better than public sector banks.
                Reply
                1. V
                  viraj
                  May 11, 2017 at 11:12 pm
                  Modi imposed emergency days in favor of big businesses, & against poor as well as middle class!
                  Reply
                  1. Pratik Basu
                    May 11, 2017 at 9:23 pm
                    Please edit the heading , its misleading. ATM withdrawals are not being charged , its only withdrawals from mobile wallet named BUDDY .
                    Reply
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                      Bala Prasad
                      May 11, 2017 at 9:19 pm
                      If the RBI support to sbi , within in short period they have to close the branchs one by one shortly. Because of the millionaire​ are dontcare 25/-Rs . But the middle cl people couldn't waste the time to withdraw the money in a Q in the bank. So they will fight with management​ to make the online the ries. It will goes to olden days ry system( manuvall ry payment system). The ATM's not maintain the cash at present. How it possible. The SBI demand to maintain 5000/- Rs. In bank A/c. How it possible. The middle cl people should close his Accounts in bank(who was get the ry 1000/-Rs. per month).
                      Reply
                      1. M
                        Manohar
                        May 11, 2017 at 9:19 pm
                        Looks like the government wants people to migrate to private banks. Now that they have merged all State Banks into one SBI, and if they force people to abandon it, naturally all private banks will benefit and maintain their monopoly. This is a clear conspiracy to kill the public sector bank.
                        Reply
                        1. Shubham Mishra
                          May 11, 2017 at 9:11 pm
                          This is very very absurd step taken by Sbi and Central Government.... they will suffer in next election.... As I m student getting only 3000rs from home and we r being forced to Maintain MAB by Sbi..After demonetisatio. Banks are looting Economically weak people.... no one is taking charge against them..
                          Reply
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                            Natarajan
                            May 11, 2017 at 9:02 pm
                            Now SBI has introduced mobi wallet. Is the rule applicable to that also? Public is realy in dark what is the intention of the RBI which is the governing body of the banks!!! If so if why the govt. one side encouraging e-money and another side making money out of such transactions? We are in a financial maze!!
                            Reply
                            1. Biswajit Sengupta
                              May 11, 2017 at 7:18 pm
                              if sbi really implement this obvious out come will be long Q at the counter. again back to old days practice of harassing customer s oi
                              Reply
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                                Koushik Das
                                May 11, 2017 at 7:15 pm
                                It is very evident from this act that SBI Guy lost their sanity.
                                Reply
                                1. S
                                  shatakshi agrawal
                                  May 11, 2017 at 6:58 pm
                                  First of all financial express ppl pls report facts correctly earlier you guys reported that sbi is going to charge rs 25 from all atm withdrawals now you have edited your post. You ppl should first get to the bottom of the issue before doing a story on any issue. Seriously what has journalism come to these days.
                                  Reply
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                                    Bahadur Singh Mangat
                                    May 11, 2017 at 6:48 pm
                                    Charges should as previous going on,Govt Employe get double Payments, Govt must watch Pvt sectors employe's problems. Pvt sectors owner getting Very Very Rich no see them.
                                    Reply
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                                      Rakesh bk
                                      May 11, 2017 at 6:44 pm
                                      I think a good move to recover from unpaid loans from working cl people.
                                      Reply
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                                        M Gurava Reddy
                                        May 11, 2017 at 6:25 pm
                                        But Hyundai company does not caring it's reputed customers l am the best example My car registration no AP 29BX 0676 l have given my vehicle Sri Jayalakshmi Automotives Pvt Ltd Auto Nagar Hyderabad for small repairs They are altered spare parts without my notice I complained to company but no response
                                        Reply
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                                          Ramesh mp
                                          May 11, 2017 at 6:18 pm
                                          If Governments are run like profit centres what can common people do? They appear to think that these ic policies quietly introduced will be only resisted but not rejected. Perhaps we should all close our accounts with the so called nationalised banks and go to cooperative banks. If we have to protest against the nonsense that is being perpetrated we can do nothing else but keep protesting. It is shameful.
                                          Reply
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                                            RAGHAV
                                            May 11, 2017 at 6:16 pm
                                            All bank must be closed specially SBI. They are doing what they want and we shuld stand against cashless theme cashless india wil make every indian helpless .This theme is only for banks not for people. People should start having cash again and all the transactions must be with cash.
                                            Reply
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