Reserve Bank Order for banks
Posted on: 30/Oct/2013 4:28:16 PM
Reserve bank of India has recommended to the nationalized banks to collect charges according to the SMS usage instead of fixed charges for the SMS service providing information related to financial transactions to their customers.
In the second quarter review of monetary policy RBI has ordered the banks to provide all information services of the department of telecommunications to their customers. The charges for the services must be calculated as per the usage and not as a fixed one. RBI has also planned to introduce new savings scheme to the small business sector very soon either in November or in December.
