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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Agencies
July 4,2020

The Mars Colour Camera (MCC) onboard ISRO's Mars Orbiter Mission has captured the image of Phobos, the closest and biggest moon of Mars.

The image was taken on July 1 when MOM was about 7,200 km from Mars and 4,200 km from Phobos.

"Spatial resolution of the image is 210 m.

This is a composite image generated from 6 MCC frames and has been color corrected," ISRO said in an update along with the image.

Phobos is largely believed to be made up of carbonaceous chondrites.

According to ISRO, "the violent phase that Phobos has encountered is seen in the large section gouged out from a past collision (Stickney crater) and bouncing ejecta."

"Stickney, the largest crater on Phobos along with the other craters (Shklovsky, Roche & Grildrig) are also seen in this image," it said.

The mission also known as Mangalyaan was initially meant to last six months, but subsequently ISRO had said it had enough fuel for it to last "many years."

The country had on September 24, 2014 successfully placed the Mars Orbiter Mission spacecraft in orbit around the red planet, in its very first attempt, thus breaking into an elite club.

ISRO had launched the spacecraft on its nine-month- long odyssey on a homegrown PSLV rocket from Sriharikota in Andhra Pradesh on November 5, 2013.

It had escaped the earth's gravitational field on December 1, 2013.

The Rs 450-crore MOM mission aims at studying the Martian surface and mineral composition as well as scan its atmosphere for methane (an indicator of life on Mars).

The Mars Orbiter has five scientific instruments - Lyman Alpha Photometer (LAP), Methane Sensor for Mars (MSM), Mars Exospheric Neutral Composition Analyser (MENCA), Mars Colour Camera (MCC) and Thermal Infrared Imaging Spectrometer

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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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News Network
February 21,2020

London, Feb 21: Scientists have discovered a new species of land snail, and have named it Craspedotropis Greta Thunberg in honour of the Swedish activist Greta Thunberg for her efforts to raise awareness about climate change.

According to the study, published in the Biodiversity Data Journal, the newly discovered species belongs to the so-called caenogastropods -- a group of land snails known to be sensitive to drought, temperature extremes, and forest degradation.

The scientists, including evolutionary ecologist Menno Schilthuizen from Naturalis Biodiversity Center in the Netherlands, said the snails were found very close to the research field station at Kuala Belalong Field Studies Centre in Brunei.

They added that the snails were discovered at the foot of a steep hill-slope, next to a river bank, foraging at night on the green leaves of understorey plants.

The effort aided by amateur scientist J.P. Lim, who found the first individual of the snail said, "Naming this snail after Greta Thunberg is our way of acknowledging that her generation will be responsible for fixing problems that they did not create."

"And it's a promise that people from all generations will join her to help," Lim said.

The researchers said they approached Thunberg who said that she would be "delighted" to have this species named after her.

The study work including, fieldwork, morphological study, and classification of identified specimen was carried out in a field centre with basic equipment and no internet access, the scientists said.

According to the study, the work was done by untrained ‘citizen scientists’ guided by experts, on a 10-day taxon expedition.

"While we are aware that this way of working has its limitations in terms of the quality of the output (for example, we were unable to perform dissections or to do extensive literature searches), the benefits include rapid species discovery and on-site processing of materials," the researchers wrote in the study.

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