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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