Latest Post :
Home » » RBI : Charges Levied by Banks for Sending SMS Alerts

RBI : Charges Levied by Banks for Sending SMS Alerts

Written By Admin on Saturday, 7 December 2013 | Saturday, December 07, 2013

RBI/2013-14/403
UBD.CO.BPD.(PCB).Cir.No.42/12.05.001/2013-14

December 6, 2013










To,
The Chief Executive Officer
All (Primary) Urban Co-operative Banks

Dear Sir / Madam,

Charges Levied by Banks for Sending SMS Alerts

Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statement 2013-14 announced on October 29, 2013 (extract enclosed) on 'Customer Service- Charges Levied by Banks for Sending SMS Alerts'.

2.In this connection, a reference is also invited to our circular UBD.CO.BPD.(PCB) No. 31/12.05.001/2006-07 dated March 9, 2007 on 'Report of the Working Group to Formulate a Scheme for Ensuring Reasonableness of Bank Charges' whereby Urban Co-operative Banks (UCBs) were advised to identify basic banking services on the basis of broad parameters indicated by the Working Group constituted by Reserve Bank of India for the purpose and the principles to be adopted/ followed by them for ensuring reasonableness in fixing and communicating the service charges for the basic banking services.

3. Urban Co-operative Banks are required to put in place a system of online alerts for all types of transactions irrespective of the amounts involving usage of cards at various channels in terms of circular RBI/DPSS.No.1501/02.14.003/2008-2009 dated February 18, 2009 and DPSS.CO.PD.2224/02.14.003/2010-2011 dated March 29, 2011.

4.At present, UCBs are providing ATM services and issuing ATM cum debit cards to their customers as envisaged in our circular UBD. (PCB).BPD.Cir No. 50/09.69.000/2005-06 dated April 28, 2006. Considering the technology available with UCBs and the telecom service providers, it should be possible for banks to charge customers based on actual usage of SMS alerts. Accordingly, with a view to ensuring reasonableness and equity in the charges levied by banks for sending SMS alerts to customers, UCBs are advised to leverage the technology available with them and the telecom service providers to ensure that such charges are levied on all customers on actual usage basis.

Yours faithfully,

(A K Bera)
Principal Chief General Manager
Share this article :

0 comments :

Speak up your mind

Tell us what you're thinking... !

2500 + Subscribers

Get Toolbar

Get our toolbar!

Read article on Android Phone

Share your file

Forum

Get updates on Facebook

Popular Posts

 
Support : Creating Website | Johny Template | Mas Template
Copyright © 2011-2013. YourKnowledgeportal - All Rights Reserved
Original Design by Creating Website Modified by Adiknya
Blogger Widgets