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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


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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