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No charge on cash withdrawals from any bank's ATM for 3 months: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman also waived minimum bank charges for savings bank accounts and said that the government is working expeditiously on an economic package which will be announced soon in the wake of COVID-19 outbreak

twitter-logoBusinessToday.In | March 24, 2020 | Updated 16:04 IST
No charge on cash withdrawals from any bank's ATM for 3 months: FM Nirmala Sitharaman
Finance Minister Nirmala announced a slew of measures in the wake of COVID-19 outbreak during a press conference on Tuesday

Finance Minister Nirmala Sitharaman announced on Tuesday that all debit card holders can withdraw cash from any bank's ATM free of charge for the next three months.

FM Sitharaman made this announcement during a press conference on several statutory and regulatory compliance issues due to a complete lockdown almost all over the country owing to novel coronavirus outbreak.

She further said that "there shall not be any minimum balance requirement fee" in bank accounts.

Also Read: Coronavirus in India LIVE Updates: FM extends tax deadlines to give relief to individuals, businesses

Amongst several announcements made, the finance minister extended the Aadhaar-PAN card linking deadline to June 30 from March 31.

She also extended the income tax returns filing date for the financial year 2018-19 to June 30, 2020.

FM Sitharaman informed that the government is working expeditiously on an economic package which will be announced soon.

Also Read: Aadhaar-PAN linking deadline extended to June 30 from March 31

However, she did not give any specific date for the said economic relief package, which many industry bodies have sought form the government amid the COVID-19 pandemic crisis.

Prime Minister Narendra Modi has announced setting up of a task force, which will be headed by FM Sitharaman, to look at steps to mitigate the economic impact of novel coronavirus pandemic.

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