HDFC Bank hikes cash transaction charges
In a bid to discourage cash transactions, country's second largest private sector lender HDFC Bank has decided to steeply increase the fees for savings account holders on a slew of activities involving cash.
The move assumes significance as the government post demonetisation has been encouraging people to shift to a cash-less or less-cash regime and use digital mode for transactions.
The bank has capped the third-party transactions at Rs 25,000 a day, reduced the number of free cash transactions at branches to four from five earlier and also raised the fee for non-free transactions by a steep 50 per cent to Rs 150, it said on its website.