What are the processing / service charges levied under ECS Debit?
Ans : The Reserve Bank of India has deregulated the charges to be levied by sponsor banks from user institutions. The sponsor banks are, however, required to disclose the charges in a transparent manner. No processing charges are levied by the ECS Centres; the same has been waived till March 31, 2010. Bank branches do not generally levy processing / service charges for debiting the accounts of customers maintained with them.