sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Latest Circulars »
  RBI-Interest rates for Small Savings Schemes
 RBI-State Finances: A Study of Budgets of 2017-18 and 2018-19
 Regarding Recovery – VAT Delhi – Circular No.6/2018
 RBI-Auction of Government of India Dated Securities July 16, 2018
 Auction for Sale (Issue/Re-issue) of Government Stock (GS) July 16, 2018
 RBI-Incorporation of Name of the Purchaser on the Face of the Demand Draft
 RBI likely to extend deadline for filing of foreign investment master form
 Priority Sector Lending - Targets and Classification: Lending to non-corporate farmers – System wide average of last three years
 Exim Bank's Government of India supported Line of Credit of USD 17.50 million to the Government of the Cooperative Republic of Guyana
 Discussion on Changes in ITR Form & Stress Management with Financial Stress Assessment
 Auction for Sale (Re-issue) of Government Stock (GS) July 09, 2018

RBI-Ensuring Reasonableness of Bank Charges and Charges Levied for Sending SMS Alerts by State Cooperative Banks (StCBs) /District Central Cooperative Banks (DCCBs)
March, 06th 2014

RBI/2013-14/513
RPCD.CO.RCB.BC.No. 90 /07. 51.010 /2013-14

March 05, 2014

The Chairmen
All State/ District Cooperative Banks

Dear Sir/Madam,

Ensuring Reasonableness of Bank Charges and Charges Levied for Sending SMS Alerts by State Cooperative Banks (StCBs) /District Central Cooperative Banks (DCCBs)

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’. State Cooperative Banks (StCBs) /District Central Cooperative Banks (DCCBs) 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 and DPSS.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 StCBs / DCCBs to charge customers based on actual usage of SMS alerts. Accordingly, with a view to ensuring reasonableness and equity in the charges levied by StCBs/DCCBs for sending SMS alerts to customers, StCBs/DCCBs 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 StCBs/DCCBs for ensuring reasonableness in fixing and communicating the service charges for the basic banking services are indicated in the Annex. StCBs/DCCBs are required to take action as stated in the column ‘Action Points for StCBs/DCCBs’.

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.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions