Cash Deposit Charges by State Bank of India

The Issue

Now a days State bank of India has started deducting Cash Deposit Charges of Rs. 2.86 per Rs. 1000/- deposited into the Bank, from current and cash credit account holders, which is unethical and unfair. There are thousands of business houses who works in rural and urban areas and collects cash from their customers in process of selling goods and services. Good examples are: Petrol Pump, Fruit & Vegetable dealer, FMCG Dealer, Electrical shops, Farmers, LUBE Dealers, Local Bidi manufacturer, Grocery shops, bars and restaurants, Hardware Merchants and lots more and more. Every day State bank of India is collecting million of amount Nation Wide on pretext of Cash deposit and Handling charges. The Burden of cash deposit charges will in turn be passed on to customers making products more costlier. As per RBI Guidelines also cleared that there is no Cash Deposit Charges to be taken from Customers of either Saving or Current Account holder. RBI Circular RBI / 2008-09 / 207, DPSS.CO.No. 611 / 03.01.03(P) / 2008-09 . Till yet other bank are not charging single penny against Cash Deposit Charges. If State Bank of India gets successful in implementing this kind of charges, sooner or later other bank will also get motivated and will implement the similar charges. State Bank of India is one of the Best Banks of India. If State Bank of India gets indulged in this kind of practices then what we can expect from other private Banks in INDIA. SBI should not forget their serving policies towards country. The country is enjoying the services since its inception. I request management of the State Bank of India to kindly waive off the cash deposit charges considering all the facts. I would like to bring your kind attention that please "Do Not Confuse : Cash Deposit Charges vs Cash Handling Charges. We are not using cash handling facility of bank...." Thanking you. Manoj Agarwal

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manoj agarwalPetition Starter
This petition had 187 supporters

The Issue

Now a days State bank of India has started deducting Cash Deposit Charges of Rs. 2.86 per Rs. 1000/- deposited into the Bank, from current and cash credit account holders, which is unethical and unfair. There are thousands of business houses who works in rural and urban areas and collects cash from their customers in process of selling goods and services. Good examples are: Petrol Pump, Fruit & Vegetable dealer, FMCG Dealer, Electrical shops, Farmers, LUBE Dealers, Local Bidi manufacturer, Grocery shops, bars and restaurants, Hardware Merchants and lots more and more. Every day State bank of India is collecting million of amount Nation Wide on pretext of Cash deposit and Handling charges. The Burden of cash deposit charges will in turn be passed on to customers making products more costlier. As per RBI Guidelines also cleared that there is no Cash Deposit Charges to be taken from Customers of either Saving or Current Account holder. RBI Circular RBI / 2008-09 / 207, DPSS.CO.No. 611 / 03.01.03(P) / 2008-09 . Till yet other bank are not charging single penny against Cash Deposit Charges. If State Bank of India gets successful in implementing this kind of charges, sooner or later other bank will also get motivated and will implement the similar charges. State Bank of India is one of the Best Banks of India. If State Bank of India gets indulged in this kind of practices then what we can expect from other private Banks in INDIA. SBI should not forget their serving policies towards country. The country is enjoying the services since its inception. I request management of the State Bank of India to kindly waive off the cash deposit charges considering all the facts. I would like to bring your kind attention that please "Do Not Confuse : Cash Deposit Charges vs Cash Handling Charges. We are not using cash handling facility of bank...." Thanking you. Manoj Agarwal

avatar of the starter
manoj agarwalPetition Starter

The Decision Makers

State Bank of India Cash Deposit Charges.
State Bank of India Cash Deposit Charges.
Chairman, Chief General Manager, State Bank of India
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Petition created on 4 March 2016