Private banks to charge Rs 150 after four cash transaction

Mumbai - India's leading private banks including HDFC, ICICI, AXIS will charge a minimum of Rs 150 for cash deposits and withdrawals after four free transactions in a month. These charges are for cash transactions in the branches, and not through ATMs. The process was applicable from 1 March onward. Vishwas Utagi, Vice President All India Bank Employees Association (AIBEA) stated that many public servants have their accounts in Axis Bank and were liable for the charges that will be levied on four transactions. We will request the government to close our accounts in private banks.