24 March 2020 – Reduced bank fees

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Business support
Sectors Involved: Financial markets and monetary policy
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Government of India reduced or removed various bank fees.

Debit cardholders can withdraw cash for free from any other banks” ATM for three months.

The minimum balance fee will be waived.

Bank charges for digital trade transactions for all trade finance consumers will be reduced.
Full details here: https://pib.gov.in/PressReleseDetail.aspx?PRID=1607942