New Delhi, April 16 -- The country's largest bank, State Bank of India, on Thursday said that the bank has retained charges on cash withdrawals over and above four free withdrawals per month but has stopped recovering charges in such accounts on all digital transactions.

The Reserve Bank of India, in August 2012, had mandated that banks are free to levy reasonable charges in BSBD (Basic Savings Bank Deposit) accounts beyond four free transactions. The availment of such additional services shall be at the option of the customers, it had said.

In view of the regulations, the SBI introduced charges for debit transactions beyond four free transactions in BSBD accounts with effect from June 15, 2016 with prior intimation to the customers.

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