associate sponsors


Cash transactions charges most retrograde step: Chidambaram

New Delhi: The move by some public and private banks to levy charges after certain number of cash transactions at branches is the most retrograde step, former Union Finance Minister P Chidambaram today said.

P Chidambaram. PTI

P Chidambaram. PTI

Banks including HDFC Bank, ICICI Bank and Axis Bank at present charge a minimum Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.

"Bank charges for depositing cash and withdrawing cash is most retrograde step," Chidambaram tweeted.

"Will banks be happy if customers withdraw cash in one go and keep cash at home," the senior Congress leader said posted on Twitter.

The move to re-impose a fee on cash transactions was seen in some quarters as aimed at discouraging cash transactions and furthering the digital payment drive.

Updated Date: Mar 06, 2017 12:35 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See