The union finance ministry on Wednesday announced that there will be no service charge on transactions through debit cards till December 31. Economic affairs secretary Shaktikanta Das briefed the media to announce several new measures by the Modi government to ease some of the problems faced by the common man. Here are the highlights.

  • No service charge will be levied on digital financial transactions using feature phones till December 31, 2016.
  • Public banks have said that there has been a surge in demand for usage of digital financial transactions.
  • FM Arun Jaitley held video-conference call with NABARD & RBI; advised them to carry out whole chain of activities smoothly.
  • 82,000 ATMs re-calibrated so far, only a matter of few days all the ATMs will be re-calibrated.
  • NABARD and RBI has been advised to ensure adequate cash supply is available to the district cooperative banks.
  • NABARD has sanctioned Rs 21,000 crore limit to district central cooperative bank.
  • Indian railways waives off service charges on e-tickets booked till December 31.

Long queues continue to be witnessed outside the banks and ATMs as the common man has been hit the hardest by the Modi government’s demonetisation move. Incidents of violence have also been reported in several places of the country as people are vying to withdraw cash from ATMs which are unable to cope up with huge demand.