Banks To Charge For Cash Transactions?
Tuesday, December 27, 2016, 11:10 AM
Manju Agarwal, Deputy Managing Director of State Bank of India says, banks must be allowed to charge bank account holders for cash transactions, as handling cash is a huge cost to banks. The Reserve Bank of India and other Commercial banks, bear a total cost of $3.5 billion a year, on currency operations. Banks have been promoting cashless transactions, to reduce these costs.