Indian Banks Association clarified that some segment of social media based on misinformed communication and spreading false information that all free services of public sector banks will be ceased by January 20, 2018. In addition, there is neither a move by banks for such blanket removal of free services nor such thing is being contemplated.

However banks looking at its commercial and operational costs would constantly examine and revise charges as the case may be.

It is clarified by IBA that these rumours are baseless and false. Public should be careful and should not get misled by such messages. Such news are pure rumours and there are no such fresh RBI instructions/guidelines on this.

Indian Bank Association clarification on rumours on discontinuation of free services by Banks

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    IBA can issue a bold advertisement in News Papers that unless they Advertise of any changes in News Papers Public need not take notice of any contemplated changes

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