The RBI this year had done away with charges on NEFT and RTGS transactions and asked banks to pass on the benefit to their customers.
The RBI has also allowed PMC Bank account holders to withdraw money from the bank's own ATMs within the prescribed limit of Rs 50,000.
Rate was cut due to slowdown, fall in investments.
Loan rates to come down; repo rate now at 5.15%, GDP growth pegged at 6.1%
n this rate easing cycle, the terminal rate could reach 5 per cent or a tad lower by the end of FY20: Madhavi Arora.
The bank’s Managing Director Joy Thomas has also been suspended effective Wednesday.
Depositors panic as withdrawals capped at Rs 1,000 per account.
The bank will also voluntarily extend benchmark-based lending to medium enterprises to boost lending to the MSME sector as a whole.
Home, auto loans to get cheaper from October.
However, given the merged banks are on similar technology platform, the integration should be smoother: Agarwal.