Finance Minister Nirmala Sitharaman has given great relief to the general public in this period of corona virus crisis. There will be no charge for cash withdrawal from any bank ATM from debit / ATM card of any bank for the next three months. Right now a certain number of free cash withdrawals can be made from ATMs of other banks. After that number is over, a charge has to be given on the transaction.
But now this charge will not have to be paid till June 30. This step has been taken due to the lockdown in 560 districts of the country in view of COVID-19. The lockdown appeals to the public to stay at home. Therefore, they have been given relief keeping in mind that they can easily withdraw cash from the ATM near their home.
Minimum balance rebate on savings account
Apart from this, the government has also abolished the need to keep minimum monthly balance maintenance in the savings account. If the minimum balance is not present in the savings account of the customer, banks will not charge from it. Right now, according to metro city, urban, semi-urban and rural areas, the limit for keeping a minimum balance in a savings account in different banks is different. Apart from this, the government has also removed bank charges for digital trade transactions.