Sunday, January 12, 2014

ATM Chrages SBI's Argument

The bank's argument is not tenable. SBI enjoys the maximum float funds free of cost and the very thought of squeezing deposit customers by charging for withdrawals of their own money used by banks to lend and write off in some cases is atrocious. The monies written off through bad loans if avoided would be more than the ATM maintenance cost and there is absolutely no justification to charge for the ATM transactions. Since the depositors are not able to resist any such moves, they are exploited to the maximum by the bank and it is time depositors organise themselves and resist such moves.

Dr.T.V.Gopalakrishnan

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