SBI has reiterated that BSBD account holders do not pay any charges for digital transactions, according to statement issued by the bank on Tuesday.
New Delhi: State Bank of India (SBI) has issued clarifications on claims of digital unpaid refunds and online transactions involving UPI and RuPay debit cards. The country’s largest public sector lender has stated that it had introduced charges beyond the first 4 withdrawals in Basic Savings Bank Deposit (BSBD) accounts in Business Correspondent channel. SBI has also reiterated that BSBD account holders do not pay any charges for digital transactions, according to statement issued by the bank on Tuesday.
SBI’s statement came after media report had alleged that the country’s largest bank did not refund charges levied from the customers on digital transactions between April 2017 to December 2019.
Bank introduced charges beyond the first 4 withdrawals in BSBD (Basic Savings Bank Deposit) accounts in the BC (Business Correspondent) channel w.e.f. June 15, 2016, in line with RBI guidelines with prior intimation to customers,” SBI statement reads, as per ANI report.
We reiterate that BSBD customers do not pay any charges for digital transactions including transactions using Unified Payments Interface (UPI) and RuPay debit cards,” SBI said in a statement issued on Tuesday, the ANI report said.
Earlier in November, SBI reported a record 67 per cent year-on-year jump in its net profit to Rs 7,627 crore in second quarter period of fiscal year 2021-22. The bank had reported net profit of Rs 4,574 crore in Q2 of fiscal year 2020-21. The net interest income of the bank during this period under review also increased by 10.65 per cent year-on-year, according to an IANS report.
