Canara Bank, a leading nationalized bank, is reportedly planning to charge Rs 60 per year to customers for SMS alert service starting from October 2013. However, the bank will not charge any such fee to senior citizens, small savings account holders, basic bank accounts holders and financial inclusion savings account holders.
In the March 2011, the RBI had issued guidelines for banks to send online alerts to customers for all types of transactions. However, RBI has not issued any guideline on charging any banks for providing SMS alerts.
On standalone basis, the bank has posted a rise of 2.17% in its net profit at Rs 792.07 crore for the quarter ended June 30, 2013 as compared to Rs 775.24 crore for the same quarter in the previous year. Total income has increased by 14.65% at Rs 10507.88 crore for quarter under review as compared to Rs 9165.47 crore for the quarter ended June 30, 2012.
