Saturday, July 25, 2015

#Canara Bank #Vijaya Bank #Corporation Bank #Axis Bank #HDFC Bank found flouting #RBI rules on Intersol charges

A sting operation carried by NEWS9 TV channel has exposed that many public sectoe and privare sector banks are flouting the RBI rules on Intersol charges openly. Charges levied by banks on their customers for products and services are called Intersol charges.

The Reserve Bank has directed that banks should not discriminate between their customers at home branch and non-home branches under the Core Banking Solutions ( CBS) platform."Accordingly, if a particular service is provided free at home branch the same should be available free at non-home branches also. There should be no discrimination as regards to intersol charges between similar transactions done by customers at home branch and those done at non-home branches," RBI said in a directive.

Banks like Canara Bank,Vijaya Bank, Corporation Bank, Axis bank, HDFC Bank were found discriminating against their own customers in the sting operation.