Suryoday Small Finance Bank, in a first of its kind initiative on Tuesday, said that it has decided to discontinue ATM banking service with effect from October 1, 2021, due to the Digital Banking Initiative Programme.
New Delhi. Suryoday Small Finance Bank, in a first of its kind initiative on Tuesday, said that it has decided to discontinue ATM banking service with effect from October 1, 2021, due to the Digital Banking Initiative Program. The bank commenced its operations as a small finance bank on 23 January 2017.
Know how the money will be transacted,
however, the ATM and debit card of the bank based in Maharashtra will work at the ATM of another bank. Apart from this, other services like PIN generation, fund transfer, mini statement, balance enquiry etc. will be available through internet banking and mobile banking.
The Reserve Bank of India (RBI) had issued a license to the bank under Section 22(1) of the Banking Regulation Act, 1949 to carry on the business of Small Finance Banks in India.
Bank provides these services
When RBI issued such guidelines in November, it said that small finance banks will offer infrastructure banking services, accept deposits and unserved and underserved entities, including small business units, small and marginal farmers, micro and small scale industries and unorganized sector entities. Will lend to service classes.
Suryoday Small Finance Bank FD Rates
According to the website of Suryoday Small Finance Bank, Suryoday Small Finance Bank gives interest ranging from 3.25 percent to 6.75 percent on deposits maturing in 7 days to 10 years.
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