BANKING AFFAIRS

Detailed explanation-1: -(ii) Banks are advised to provide minimum 25 cheque leaves every year, if requested, in savings bank account, free of charge.

Detailed explanation-2: -Dear Customer, We hereby inform you that w.e.f. Jun 1, 2011, standard Current Account customers placing a request for a cheque book will receive only 25 cheque leaves per cheque book.

Detailed explanation-3: -Did you know? First, ten cheque leaves will be free of cost for cheque book services in a financial year. After that, ten leaf cheque books will levy ₹40 plus GST; 25 leaf cheque books at ₹75 plus GST and emergency cheque books will attract a charge of ₹50 plus GST for ten leaves or part thereof.

Detailed explanation-4: -As the name suggests, the normal current account is for businesses which do not involve huge amount of transactions. The minimum balance requirement for opening a Normal Current Account is Rs.10, 000. The account provides free corporate internet banking facility.

Detailed explanation-5: -"While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of Rs 5, 00, 000 and above", the RBI had added.