The State Bank of India (SBI) has made an announcement that the bank will waive service charges for all ATM transactions made on SBI ATMs. The decision will also be implemented on the other bank ATMs on account of exceeding the free number of transactions up to 30th June 2020. Therefore, any customer having a debit card from a State Bank of India will be allowed to withdraw cash from any other bank’s ATM without incurring any additional charges till 30th June, 2020.
The decision to waive service charges was taken by the State Bank of India in view of the announcement made by Finance Minister Nirmala Sitharaman stating “no charge will be levied on cash withdrawals by a bank’s customer from the ATM of any other bank till 30th June 2020”.
Important takeaways for all competitive exams:
- Chairperson of State Bank of India: Rajnish Kumar.
- Headquarters: Mumbai; Founded: 1 July 1955.