Finance Ministry has dismissed the media reports that public sector banks will discontinue all free services from 20th of this month. In a tweet, Financial Services Secretary, Rajeev Kumar said, there is no such proposal and the reports are purely rumors and are baseless.
The Indian Bank Association has also issued clarification in this regard saying there is neither any move by banks for such a blanket removal of free services nor such thing is being contemplated. It said the public should not get misled by such messages.
The Association, however, said the banks looking at their commercial and operational costs will constantly examine and revise charges as the case may be.