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IDBI Bank has now decided to wave various charges on current and savings accounts as a measure to further strengthen the bank’s bonds with its customers.
Announcing this in Kolkata on Saturday, R M Malla, Chairman-cum-Managing Director (CMD), IDBI Bank said that IDBI happens to be the first bank in the country to have done that. “This innovative, customer-friendly measure has already been put into practice with effect from September 1,” he said.
The list of charges, which have been withdrawn include: average balance charges, account closure charges, ATM inter-change fee, Issuance, Card fee new-Master, Card fee New-VISA, cash service charges, cheque book charges, DD charges, ECS charges, EFT charges, new card issue, outstation cheque clearance, PO charges, account statement charges, standing instruction charges, stop payment charges, outward charges, MICR Cheque charges, DD cancellation charges, DD issue charges.
Refusing to give out any figures on by how much the bank’s CASA deposits and overall business following adoption of these innovative measures, Malla said, “More than the figures, what is important is that we have come up with a new way of banking. Business and CASA deposit will certainly grow significantly. In fact we would like every Indians to open an account with us now. Our CASA is growing steadily at 15 per cent. This is quite high. Our balancesheet is growing at even higher rate. I would expect our CASA to grow at 20 per cent on our expanded balance sheet.”
Announcing this in Kolkata on Saturday, R M Malla, Chairman-cum-Managing Director (CMD), IDBI Bank said that IDBI happens to be the first bank in the country to have done that. “This innovative, customer-friendly measure has already been put into practice with effect from September 1,” he said.
The list of charges, which have been withdrawn include: average balance charges, account closure charges, ATM inter-change fee, Issuance, Card fee new-Master, Card fee New-VISA, cash service charges, cheque book charges, DD charges, ECS charges, EFT charges, new card issue, outstation cheque clearance, PO charges, account statement charges, standing instruction charges, stop payment charges, outward charges, MICR Cheque charges, DD cancellation charges, DD issue charges.
Refusing to give out any figures on by how much the bank’s CASA deposits and overall business following adoption of these innovative measures, Malla said, “More than the figures, what is important is that we have come up with a new way of banking. Business and CASA deposit will certainly grow significantly. In fact we would like every Indians to open an account with us now. Our CASA is growing steadily at 15 per cent. This is quite high. Our balancesheet is growing at even higher rate. I would expect our CASA to grow at 20 per cent on our expanded balance sheet.”
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