IDBI removed the charges for various actions | What are the issues against which the IDBI bank had eliminated the charges?

September 4th, 2010| Uncategorized.

IDBI removed the charges for various actions | What are the issues against which the IDBI bank had eliminated the charges?

IDBI bank

The government field IDBI bank had removed all the charges for its customers. The bank had declared that the charges for the savings account customers for the demand draft, checkbook facility, credit, debit and ATM exchange are eliminated. It had also declared that the charges the bounced cheques from the depositors are also removed. The IDBI had removed these charges to get more depositors and the deposit rates in the IDBI bank are very less. The IDBI bank is trying to increase the number of retailers and they are giving the importance to the customers than income. So they are reducing the deposits rates and they are removing the charges on various issues. They are trying to get the reduced income through the loan services and corporate loan syndicating ways. The deposits for the savings account and current account are 30% less than the other bank rates. The bank had also removed the charges on the using of the ATM in other ATMs and the customers are not charged for using the ATM in other bank ATM centers. The customer can use any number of times and the charges are paid by the bank itself. This removal charges is a long term change and they are trying to provide the free services for their customers. The other banks are charging the customers for various reasons and they are earning a lot of income only with these charges. It is not easy for the other banks to take the decision of removing various charges.

More 250 branches:

The IDBI bank had declared that it would start another 250 branches along with the existing 750 branches. They had also decided to increase the ATMs and they are estimating the increase in the number of depositors as the charges on various issues are removed. They are estimating 18% increase in the deposits and 20% in the loan takers. They are also trying to change the equities of the bank in the coming year and the present equity share for the government is 65%. They are trying to reduce the equity to 51% and they are trying to buy the equities of other banks or establish private equities.

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