Free withdrawals over: Pay Rs 20 for more than 3 ATM uses at SBI, HDFC Bank, Axis Bank

November 10, 2014

hdfc bankNew Delhi, Nov 10: Banking consumers will have to pay more if they are prolific with ATM transactions as State Bank of India (SBI) and its private sector peers HDFC Bank and Axis Bank have capped the free usage in six metros at three.

The capping and additional fees on excess usage come following a recent circular by the Reserve Bank of India allowing banks to limit the number of free ATM transactions to five - three in the largest six cities and two elsewhere - a month.

Under the new norms, which have been accepted by the RBI, a customer can make three free ATM transactions in the six largest cities at own-bank machines and two elsewhere.

The new limits and rates by SBI, HDFC Bank and Axis Bank will be applicable to transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bangalore and Hyderabad.

SBI, which had reported a loss of nearly Rs. 400 crore by way of paying other banks as interbank ATM usage in FY14, was first to cap free ATM transactions at three and impose fees of Rs 20 per subsequent transaction. Since November 1, the new norms are effective at India's largest lender, SBI.

However, the bank has allowed more free ATM transactions to those who avoid visiting its branches, and unlimited transactions for those with large balances.

The second and the third largest private sector players - HDFC Bank and Axis Bank, respectively - have also followed suit and said effective December 1, they will also be charging Rs 20 per transaction above five a month.

While HDFC Bank will charge Rs 20 for cash withdrawals and Rs. 8.5 (excluding taxes) for balance enquiry, mini statement, etc., Axis Bank will also charge Rs 20 and taxes for financial transactions and Rs 9.5 for non-financial ones.

At third-party ATMs, HDFC Bank and Axis Bank will charge for more than three transactions, down from the earlier five free transactions, the banks said in separate customer notifications.

Axis Bank, which with a little over 12,000 ATMs, however, is offering 10 free transactions for its Prime Plus savings account and Prime salary account holders.

But both these account holders need to have a minimum opening balance of Rs. 1 lakh and they can have first five free transactions at non-home bank ATMs.

SBI has been from November 1 charging for more than own-ATM withdrawals a month at accounts having less than Rs. 25,000 in monthly balance. For accounts with over Rs 25,000 and above in balance, however, there is no limit at its own ATM network. But, their access to third-party ATMs is capped at three a month.

Those who exceed the limit will pay Rs 5 per transaction at its ATMs and Rs 20 at machines belonging to other banks. The bank is charging Rs. 8 for each non-financial transaction above the cap.

The lender has also raised the number of free usage on its home network from five to nine, if a customer does not visit a branch during the month.

For those who maintain average balances of over Rs 1 lakh, SBI is providing unlimited access to all ATMs. However, those with less than Rs 25,000 balances are charged above five transactions on its ATMs and three at third-party machines.

As per latest data from the RBI, at the end of June quarter there were 1,66,894 ATMs in the country and with 44,929 machines, SBI is way ahead of its nearest rival Axis Bank by more than three times or over 27 per cent of the market.

SBI has 12.59 crore cardholders and accounts for 31 per cent of the 40.9 crore debit cards in the country and its cardholders are responsible for over 41 per cent of all ATM transactions.

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News Network
May 7,2020

Toronto, May 7: Scientists have uncovered how bats can carry the MERS coronavirus without getting sick, shedding light on what triggers coronaviruses, including the one behind the COVID-19 pandemic, to jump to humans.

According to the study, published in the journal Scientific Reports, coronaviruses like the Middle East respiratory syndrome (MERS) virus, and the COVID19-causing SARS-CoV-2 virus, are thought to have originated in bats.

While these viruses can cause serious, and often fatal disease in people, bats seem unharmed, the researchers, including those from the University of Saskatchewan (USask) in Canada, said.

"The bats don't get rid of the virus and yet don't get sick. We wanted to understand why the MERS virus doesn't shut down the bat immune responses as it does in humans," said USask microbiologist Vikram Misra.

In the study, the scientists demonstrated that cells from an insect-eating brown bat can be persistently infected with MERS coronavirus for months, due to important adaptations from both the bat and the virus working together.

"Instead of killing bat cells as the virus does with human cells, the MERS coronavirus enters a long-term relationship with the host, maintained by the bat's unique 'super' immune system," said Misra, one of the study's co-authors.

"SARS-CoV-2 is thought to operate in the same way," he added.

Stresses on bats, such as wet markets, other diseases, and habitat loss, may have a role in coronavirus spilling over to other species, the study noted.

"When a bat experiences stress to their immune system, it disrupts this immune system-virus balance and allows the virus to multiply," Misra said.

The scientists, involved in the study, had earlier developed a potential treatment for MERS-CoV, and are currently working towards a vaccine against COVID-19.

While camels are the known intermediate hosts of MERS-CoV, they said bats are suspected to be the ancestral host.

There is no vaccine for either SARS-CoV-2 or MERS, the researchers noted.

Follow latest updates on the COVID-19 pandemic here

"We see that the MERS coronavirus can very quickly adapt itself to a particular niche, and although we do not completely understand what is going on, this demonstrates how coronaviruses are able to jump from species to species so effortlessly," said USask scientist Darryl Falzarano, who co-led the study.

According to Misra, coronaviruses rapidly adapt to the species they infect, but little is known on the molecular interactions of these viruses with their natural bat hosts.

An earlier study had shown that bat coronaviruses can persist in their natural bat host for at least four months of hibernation.

When exposed to the MERS virus, the researchers said, bat cells adapt, not by producing inflammation-causing proteins that are hallmarks of getting sick, but instead by maintaining a natural antiviral response.

On the contrary, they said this function shuts down in other species, including humans.

The MERS virus, the researchers said, also adapts to the bat host cells by very rapidly mutating one specific gene.

These adaptations, according to the study, result in the virus remaining long-term in the bat, but being rendered harmless until something like a disease, or other stressors, upsets this balance.

In future experiments, the scientists hope to understand how the bat-borne MERS virus adapts to infection and replication in human cells.

"This information may be critical for predicting the next bat virus that will cause a pandemic," Misra said.

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News Network
July 28,2020

Bengaluru, Jul 28: Congress leader Siddaramaiah on Monday alleged that BJP is trying to destabilise the Congress government in Rajasthan.

"It is the duty of the Governor to act according to the decision of the state cabinet. But he is acting like a central government puppet," he said at a protest organised here by Karnataka Pradesh Congress Committee (KPCC).

He said the Congress is protesting across the country to save democracy and save the constitution.

"We are not fighting through violence. We are protesting peacefully. The Constitution has given the right to protest in a democratic system," he said.

He accused the BJP of "being disrespectful" to the Constitution.

"Governments must walk within the framework of the Constitution. The Constitution gives everyone rights and duties. BJP destabilises elected governments and buys our legislators by horse-trading by spending crores of money. The same thing happened in Karnataka as well," he alleged.

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Agencies
March 10,2020

New Delhi, Mar 10: Crisis-hit Yes Bank on Tuesday said that it has enabled inward IMPS and NEFT services.

The move allows people to send money from other bank accounts to their Yes Bank account through IMPS (Immediate Payment Service) and NEFT (National Electronic Funds Transfer) mode.

In a tweet, the bank also said that Yes Bank customers can pay their credit card dues and loan obligations from other bank accounts.

"Inward IMPS/NEFT services have now been enabled. You can make payments towards YES BANK Credit Card dues and loan obligations from other bank accounts. Thank you for your co-operation. @RBIA @FinMinIndia," said tweet.

Last week Yes Bank was placed under moratorium and a withdrawal cap of Rs 50,000 was imposed till April 3.

The administrator of Yes Bank, Prashant Kumar and Rajnish Kumar, the Chairman of the State Bank of India are hopeful that moratorium would be lifted within a week.

As per the Reserve Bank of India (RBI) draft reconstruction scheme for the crisis-hit private lender, the SBI will take up 49 per cent in the bank by investing Rs 2,450 crore.

The new board of directors will stand constituted from the appointed date. It will comprise a CEO and MD, non-executive chairman and non-executive directors. The SBI will have nominee directors appointed on the board of the reconstructed bank.

The RBI may appoint additional directors to the board, who shall continue in office for one year, or until an alternate board is constituted by Yes Bank.

The SBI will not reduce its holding below 26 per cent before completion of three years from the date of infusion of the capital.

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