Country’s largest lending Bank State Bank of India has decided to increase the charges for cash deposit at non home branch. It has been reported that bank will now charge Rs 100 instead of Rs 50 from the customers for depositing cash at the branch other than where customer is having account. The revised fee charges will be in effect from 8th march, 2014. For the SME segment the maximum cash deposit limit at non home branch is RS 2 lakhs per day. Bank does not charge any cost for the bundle having up to 1,000 notes. The bank charges Rs 102 for than one bundle.
PNB does not charge the customers for depositing cash in recurring deposits, term loans, NPA and protested account. However PNB currently charges Re 1 per Rs1,000 or part thereof with a minimum of ₹25 a transaction if its customer deposit cash at a non-home branches. The RBI committee reported that there was discontentment among customer regarding the bank charging them for the services like pass book updation and cash deposit at non home branches.