Government bank
Do you know that banks charge fees for all kinds of service, whether you take that service online or go to the branch? The Finance Ministry said in the Lok Sabha that banks are allowed to charge a reasonable service charge on different services given to them. In the last five years, public sector banks have earned more than Rs 2,300 crore from online services. The Finance Ministry gave this information in the Lok Sabha on Monday.
Asks these questions in Parliament
During the Lok Sabha session on 28 July 2025, MP Dr. T Sumathi alias Tamizchi Thangpandian and Thiru DM Kathir Anand asked questions about the earnings from the service charge of banks and monitoring the RBI on foreign exchange reserves.
In response to this, it was told that according to the Customer Service in the Reserve Bank of India (RBI) in the banks master circular, every bank board has the right to fix the service charge on its services, provided these charges are reasonable and in line with the average cost of serving. Apart from this, banks have been asked to give complete information about these charges on their website and notice board of the branch so that the customer can get all the information easily.
How to earn public banks in 5 years
In the last five years, the PSBS (PSBS) has given details of the total amount of money from online services (such as debit card merchant transactions, internet/mobile banking, government transactions, forex transactions, fees payment and payment service like IMPS/NEFT/RTGS).
Also, PSBS has made non-interest income (ie earning apart from interest) in both online and offline (branch network) methods, in the last five years (fY 2019-20 to FY 2024-25), an annual growth of 9.15% in FY 2019-20 to FY 2024-25).
RBI’s eye on foreign exchange market
According to the RBI, the value of the Indian rupee (INR) is fixed from the market. There is no fixed target or range for this. RBI continuously monitor the foreign exchange market and intervenes when needed. Between September 2024 and April 2025, the government has explained the details of what RBI has intervened by US dollars and rupees.