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The new charges would apply to savings as well as salary accounts effective from today Some banks, including HDFC Bank, have begun charging a minimum amount of Rs 150 per transaction for cash deposits and   withdrawals   beyond four free transactions in a month. The new charges would apply to savings as well as salary accounts effective from today, leading private sector player HDFC Bank said in a circular. The bank would also cap the third party cash transactions at Rs 25,000 per day, while cash handling charges would be withdrawn effective today, the circular added. In the case of several banks, including ICICI Bank and Axis Bank, these charges came into effect early in January and are same as they were before the demonetisation move announced on November 8, while there is an increase in such fees in case of some others, including HDFC Bank, today onwards. These charges are for cash transactions in the branches, and not through ATMs. The move was seen in some...

Only once the ATMs are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers. Ten days on, the banking sector is yet to recover from the government's  demonetisation move. There are two main reasons for this. One, there is just not enough new notes being supplied by the Reserve Bank of India (RBI), even after running its printing presses over time. And the second, there are not enough technicians to recaliberate automated teller machines in the countries. Only once the  ATMs  are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers. Even as top bankers are assuring public that the situation will normalise in a week, bankers behind the counters think otherwsie. The new 500 notes have not been released in rural areas. Most of the branches just 20-30 kilometers from metros have not seen the new 500 rupee note as the currency chests are currently available only in cities. Even in me...

Your money will remain yours. You need have no worry on this point My dear citizens I hope you ended the festive season of Diwali with joy and new hope. Today, I will be speaking to you about some critical issues and important decisions. Today I want to make a special request to all of you. You may recall the economic situation in May 2014  Narendra Modi when you entrusted us with an onerous responsibility. In the context of BRICS, it was being said that the “I” in BRICS was shaky. Since then, we had two years of severe drought. Yet, in the last two and a half years with the support of 125 crore Indians, India has become the “bright spot” in the global economy. It is not just we who are saying this; it is being stated by the International Monetary Fund and the World Bank. In this effort for development, our motto has been ‘Sab Ka Saath Sab Ka Vikas’: We are with all citizens and for development of all citizens. This Government is dedicated to the poor. It will remain dedi...