Charges on debit cards at petrol pumps yet to be decided
By Ankit Sharma
Oct 21, 2013
Print    Email    RSS   

A year after the Reserve Bank of India (RBI) advertised a cut in charges on debit transactions, banks press on to infringe an expense of 2.5% for installments at petrol pumps, along these lines making an undue pick up at the expense of the purchaser. RBI, while cutting charges on debit cards, had utilized reasoning in a way that the transaction costs of credit and debit card cannot be distinguished. This was in light of the fact, that credit card transactions needed the bank to give free credit to the client until the month to month bill was issued.

The bank additionally assumed the danger of the client defaulting on his commitments. Banks noticed there were more of debit card transactions as compared to credit card transaction in July 2013. In debit cards, the cash goes straight out of the client's account, and the main costs are by virtue of utilizing the system and within admiration of security of transaction. In the West, controllers have as of recently begun topping charges on check card transactions.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

American Express Platinum Corporate Card:...
CIBIL and its role in credit risk management
An analysis of prepaid travel cards
Credit profile and its effect on loan...
Avoid withdrawing cash from your credit card

Good Morning, i forgot my FCMB Account Number and...
Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...

91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive