Relief for you: Banks to waive service charge on debit card usage till Dec 31


New Delhi: Some private sector banks have agreed to waive service charges on use of debit card till December 31, said Department of Economic Affairs Secretary Shaktikanta Das.

The government’s November 8 decision to withdraw high-value currency of Rs 500 and Rs 1000 denominations spiked credit and debit card usage by people who had to queue up for hours before banks and ATMs to withdraw money and exchange old notes.

There will also be no service charge on digital financial transactions and no switching charges for those on RUPAY cards. The service charge on booking railway tickets has been waived off during the same period too.

Das also added that about 82,000 ATMs had been re-calibrated so far and added that it would take only a matter of days before the rest of the teller-machines would be up to speed.

All government organisations, PSUs and agencies have been advised to use digital payment for paying salaries and other expenses, he said.

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