According to the SBI website, ‘A cash deposit machine, also known as Automated Deposit cum Withdrawal Machine (ADWM), is an ATM-like machine that allows you to deposit cash directly into your account using an ATM cum Debit Card. You can use this machine to deposit money instantly into your account without visiting the branch. The transaction receipt also tells you the updated balance of your account.’

Cash deposit limits vary depending on the bank and whether the Permanent Account Number (PAN) is registered or not. Here is a look at the cash deposit limits of major banks. So let’s know.

Cash deposit limit at SBI ATM The per transaction limit is Rs 49,900/- for cardless deposit and Rs 2.00 lakh through debit card (subject to PAN number being credited in the account). You can also deposit cash in your PPF, RD and loan accounts. Up to 200 currency notes can be deposited in a single transaction. ADWM accepts only denominations of Rs 100, Rs 200, Rs 500 and Rs 2000.

Bank of Baroda cash deposit limit in ATM

Cash deposit with debit card up to Rs.2,00,000/- (2 Lacs) per day where PAN is registered and Rs.49,999/- where PAN is not registered in account. Card less transaction (by feeding account number) up to Rs. 20,000/- per day.

Cash Deposit Limit in Union Bank of India ATMs

According to Union Bank website, ‘The cash recycler machine is capable of accepting and dispensing multiple notes simultaneously. CRMs accept a maximum of 200 currency notes of Rs 50, 100, 500 and 2000 per transaction and the maximum value is Rs 49999. Additional amount up to Rs 100000/- per transaction can be deposited on PAN card verification. CRMs confiscate any counterfeit currency and such notes are not returned to the depositor. Cash deposit and withdrawal is permitted by CRMs to NFS member bank cardholders. Cash withdrawal facility in CRMs is similar to ATMs.

Cash Deposit Limit in PNB ATM

PNB Cash Acceptor cum ATM or Bulk Note Acceptor is a highly efficient multi-function kiosk, the purpose of which is to accept cash for deposit in the account (for PNB only) as well as dispensing cash and performing all other ATM functions. Denominations of ₹ 500, ₹ 200 and ₹ 100 are accepted. The maximum amount per transaction that can be deposited by a customer through this CAA/BNA is Rs 1,00,000/- or a total of 200 notes. The deposit can be Rs 1,00,000/- if the customer has a PAN number registered in the account or Rs 49,900/- if the account does not have a PAN number registered in the account.

HDFC Bank cash deposit limit in ATM

The per transaction limit is Rs. 25,000 for savings account and for Card Based Deposit is Rs. 1 lakh. The per day limit is Rs 2 lakh. Cash deposit machines are configured to accept Rs. 100 (new & old), Rs. 200, Rs. 500 and Rs. 2000. Maximum counts of notes which can be deposited into the CDM per transaction are 200. HDFC Bank cash deposit machines are available only for deposit into HDFC Bank Accounts.

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Now the privatization of many banks is being discussed once again. On this matter, the government has said that even today the banking sector has been recognized as a strategic sector. For some time, there has been continuous news about the privatization of banks, on which now the statement of NITI Aayog has come. On this matter, the commission has issued a list in which it has been told that which banks can be privatized by the government in the coming days. Along with this, it has also been told that privatization of which banks is not being considered at present.

Government will not privatize these banks

Let us tell you that NITI Aayog has released a list of some such banks which the government is not going to privatize. These banks are State Bank of India, Punjab National Bank, Union Bank, Canara Bank, Bank of Baroda and Indian Bank.

Know which banks will be privatized

Let us tell you that apart from the list of banks given above, the government is planning to privatize all the banks. It has also been said in the notice of NITI Aayog that all the banks which were part of the consolidation have been kept out of this list. The Finance Minister had announced that the government is planning to privatize many government banks and insurance companies. In the financial year 2022-23, the government aims to collect a total of Rs 1.75 lakh crore through disinvestment.

Government will soon privatize IDBI Bank

The government’s stake in IDBI Bank is 45.48 per cent. At the same time, LIC has 49.24 percent stake. It is believed that the government will sell some stake in IDBI Bank and LIC will sell some stake, along with the management control will also be handed over to the buyer. The government may soon sell a major stake in the bank. According to media reports, the Department of Investment and Public Asset Management (DIPAM) may soon invite bids to sell the government’s stake in IDBI Bank.

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This decision is now gaining momentum. Tell that, even before this, the Central Government has privatized many banks from the government. Government employees are strongly opposing this decision of the government.

According to the information, two prominent economists have given their opinion that the government should privatize all other government banks except State Bank of India. While giving its verdict on this, NITI Aayog has said that 6 public sector banks of the country will not be handed over to private hands.

Giving information, government officials have said that all those banks which have been part of the government bank consolidation should not be privatised, a list has been issued by NITI Aayog.

It has been told that Union Bank, SBI, Bank of Baroda, Canara Bank and Indian Bank, these banks will not be privatized by the government. The government has also said that 6 banks will be kept government only.

Remind you that the Finance Minister had announced in last year’s budget that IDBI Bank will be privatized soon. The government wants to sell its stake in this bank. The process of this process is still going on.

This decision of the government is being continuously opposed. Despite this, the government is firm on its stand. Along with this, the Finance Minister had also said that an insurance company would also be sold.

As you know, the merger decision of 4 out of 10 banks was taken by the government in August 2019. Since then the number of public sector banks in the country has come down from 27 to 12.

The government has not yet taken any decision regarding the privatization of these banks, the Finance Minister has made it clear that all these banks will be kept out of privatization.

The post Bank Privatization List: Big news for Customers! The government has released the complete list of all the banks going private, see list first appeared on Rightsofemployees.com.

Now the name of another government bank, Union Bank has been added to this episode. Recently Union Bank has also increased its interest rates. The new rates have come into effect from October 17.

Union Bank has increased the interest rates on FDs to 7 per cent. According to the bank’s website, FDs of 91 days to 180 days will now get 4.10 percent interest instead of 0.20. From 181 to one year, 5.25 and one year FD will now get 6.30 percent interest, which was 5.35 percent earlier. Interest will be available at the rate of 6.60 percent for 1 year to 443 days, 6.70 for 444 days, 6.60 percent for 445 days to 598 days, 7 percent for 599 days, 6.70 percent for two to ten years. The new rates have come into effect from October 17.

ICICI and SBI Bank have also increased interest

Recently, ICICI Bank has also increased the interest on FDs from 7 days to 10 years by 3.75-6.25 percent. At the same time, an interest of 6.50 percent will be available on FD for 1 year 389 days to 2 years and 1 day to 3 years. At the same time, SBI has also increased the interest rates on FD by up to 20 basis points. FDs of two years and less than three years will now get 5.65 percent interest instead of 5.50 percent. At the same time, the interest rate between three years and less than five years has now increased from 5.60 percent to 5.80 percent. At the same time, the interest rate on FDs ranging from five years to 10 years has now increased from 5.65 percent to 5.85 percent. The new rates have come into effect from 15 October 2022.

Interest rates of these banks have also increased

Axis Bank has increased the interest on FDs by 0.75% to 6.20%. The new rate has come into effect from October 14. At the same time, HDFC Bank has increased the interest rates of FD by 75 basis points i.e. 0.75 percent. At the same time, the bank has increased the interest on its RD by 50 basis points i.e. 0.50 percent. The new rates have come into effect from 11 October 2022.

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