No service charge on debit card transactions
Shaktikanta Das said No service charge on debit card transactions till Dec 31
- Economic Affairs Secretary Shaktikanta Das briefed the media on Wednesday over the demonetisation issue
- And said that 82,000 ATMs have been re-calibrated so far and in a matter of a few days all the ATMs will be re-calibrated.
- Addressing the demonetisation issue, Das made other important announcements and said: “For benefit of agricultural operations in current rabi season, NABARD has sanctioned a credit limit of Rs 23,000 cr to DCCBs.”
- He said that NABARD and RBI has been advised to ensure adequate cash supply is available to the DCCBs.
- Those using debit cards will not have to pay service charges.
- All public banks and a few private banks will waive off service charges levied on the use of debit cards till December 31.
Here are some other important announcements he made:
- Indian railways has waived off service charges on e-tickets booked till December 31.
- No service charge will be levied on digital financial transactions using feature phones till Dec 31st.
- RBI announced certain relaxation on Tuesday on E-wallets, enhancing the limit from Rs 10k to Rs 20K in respect of individuals.
- As far as RUPAY cards are concerned, all switching charges and other charges have been waived till December 31.
- The TRAI also reduced USSD charges from Rs. 1.50 to 50 paise for feature phones (not smartphones) – as feature phones comprise over 65% of all phones.
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