This bank from government to private gave a double blow to the people, reduced the free service of depositing money and issuing checkbooks

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Apart from this, IDBI Bank has reduced the free facility for cash deposits (home and non-home) to five from the existing 7 and 10 in semi-urban and rural branches.

IDBI Bank Charges

The customers of IDBI Bank, which went from government to private, will now get only 20 pages of checkbooks free of cost every year. After that, for each cheque, customers will have to pay Rs. The revised fee will be applicable from next month. Till now, the customers of the bank have been getting check book of 60 checks free of cost in the first year of account opening. The bank gives a check book of 50 checks for the subsequent years. After that, for each cheque, the customer had to pay Rs.

The bank issued a notice saying that the revised fee will be applicable from July 1, 2021. However, the new regime will not be applicable to customers coming under ‘Sabka Savings Account’ and they will continue to get unlimited free checks in a year.

they will also be shocked

Apart from this, the bank has also reduced the free facility for cash deposits (home and non-home) from the existing 7 and 10 to five each in semi-urban and rural branches respectively. Similarly, free transactions in superan savings deposit accounts in semi-urban and rural areas have been reduced to eight each from the existing 10 and 12 respectively. The bank has made changes in some other services.

Changes happened last month

The Union Cabinet had approved the strategic disinvestment of IDBI Bank only last month. After this there will be many changes in the bank. The government has 45.48 percent and LIC’s 49.24 percent stake in this bank. In such a situation, if seen, the government has more than 94 percent stake in IDBI Bank directly and indirectly. IDBI was a government bank, which was formed in the country in 1964. In June 2018, LIC had bought 51 per cent stake in IDBI by investing Rs 21,000 crore. After this, LIC and the government together gave Rs 9,300 crore to IDBI Bank.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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