Investment Alerts

SBI reduces charges

State Bank of India has reduced the charges for average monthly balance in savings accounts. For savings accounts in metro and urban areas, the maximum charges have been reduced to ₹15 from ₹50; for semi-urban areas, the charges have been reduced to ₹12 from ₹40 and for rural areas to ₹10 from ₹40. Additionally, GST would also be levied in all cases. The revised charges are applicable from April 1, 2018.

MSME customers get online OD facility

MSME customers can now get instant overdraft facility of up to ₹15 lakh from ICICI Bank through the online mode. Pre-qualified customers can take this ‘InstaOD’ facility without visiting branch offices and submitting any physical documents. The customers can get this OD facility of up to ₹15 lakh anytime in a year using the internet banking and through the mobile banking app. The customers can start using the OD facility immediately. This facility is made available for ICICI customers and can soon be availed by other bank customers also.

Aadhaar deadline extended indefinitely

The Supreme Court has extended the Aadhaar linking deadline with various services till the five-judge bench delivers its order. Till the case is decided by the bench, Aadhaar linking need not be done for bank accounts, mobile numbers and financial investments. Aadhaar was earlier mandated to be linked with various services and welfare schemes before March 31, 2018.

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