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RBI-Ensuring Reasonableness of Bank Charges and Charges Levied for Sending SMS Alerts by Regional Rural Banks (RRBs)
January, 25th 2014

RBI/2013-14/458A
RPCD.CO.RRB.BC.No.78/03.05.33/2013-14

January 22, 2014

The Chairmen
All Regional Rural Banks

Dear Sir/Madam,

Ensuring Reasonableness of Bank Charges and Charges Levied for Sending SMS Alerts by Regional Rural Banks (RRBs)

Please refer to paragraph 37 of the Second Quarter Review of Monetary Policy Statements 2013-14 announced on October 29, 2013 (extract enclosed) on ‘Customer Service – Charges Levied by Banks for sending SMS alerts’. Regional Rural Banks are required to put in place a system of online alerts for all types of transactions, irrespective of the amounts, involving usage of cards at various channels in terms of circular RBI/DPSS.No.1501/02.14.003/2008-09 dated February 18, 2009 andDPSS.CO.PD.2224/02.14.003/2010-11 dated March 29, 2011.

2. Considering the technology available with banks and the telecom service providers, it should be possible for RRBs to charge customers based on actual usage of SMS alerts. Accordingly, with a view to ensuring reasonableness and equity in the charges levied by RRBs for sending SMS alerts to customers, RRBs are advised to leverage the technology available with them and the telecom service providers to ensure that such charges are levied on all customers on actual usage basis.

3. Further, the principles to be adopted/followed by RRBs for ensuring reasonableness in fixing and communicating the service charges for the basic banking services are indicated in the Annex. RRBs are required to take action as stated in the column ‘Action Points for RRBs’.

4. Please acknowledge receipt to our Regional Office concerned.

Yours faithfully,

(A.Udgata)
Principal Chief General Manager


Extract from Second Quarter Review of Monetary Policy 2013-14

Customer Service - Charges Levied by Banks for Sending SMS Alerts

37. With a view to ensuring reasonableness and equity in the charges levied by banks for sending SMS alerts to customers, banks are advised to leverage the technology available with them and the telecom service providers to ensure that such charges are levied on all customers on actual usage basis.

 
 
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