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IDFC First Bank announces waiver of charges on customer-centric services

Published on December 18, 2022
Current Context: Private sector IDFC First Bank has announced a waiver of charges on a number of customer-centric services such as cash deposits, withdrawals, demand drafts, IMPS, and SMS alerts, among others ahead of its Foundation Day.
IDFC First Bank announces waiver of charges on customer-centric services
  • Bank has announced 'Zero-fee banking' on savings accounts.
  • Customers maintaining as low as Rs 10,000 average monthly balance and Rs 25,000 AMB in savings accounts will be offered these services free of cost.
  • The lender said it has waived fees on 25 commonly used banking services related to savings accounts such as cash deposit and withdrawal at branches, third-party cash transactions, demand drafts, IMPS, NEFT, RTGS, checkbook, SMS alerts, interest certificates, insufficient balance for ATM transactions, international ATM usage and so on.
  • Static Part:
    • CEO of IDFC First Bank Limited - V. Vaidyanathan

Question: 

Q.1 Which of the following banks recently announced “Zero Free banking” on saving accounts?
a.SBI Bank
b. IDFC First Bank
c. UCO bank
d. Canara Bank
e. None of the above
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