Banking Sector

slstock wrote: I presume this is for CASH only withdrawals.  
If you transfer online within account to account, asks for a bank  Draft
or say bills pay bills etc  online its should not count?


Anycase I saw banks have not been given a directive by Finance ministry yet.

This can get tricky as their previous usual hasty proposals.

How do you calculate ?

What if someone needs  Rs 1.2 million for house repair? Should he get taxed too?

What if they need to withdraw Rs 2 laks in CAsh at a time for 6 times within 1 month

Are they going to accumute it?




 

chutiputha wrote:How this will effect ?

The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.

chutiputha wrote:Sir,as i feel this is a red light of Saving(Deposit) money @ Banks,It's a better keep money in a safe place,other than Bank.

People will go for alternative services

slstock wrote: I presume this is for CASH only withdrawals.  
If you transfer online within account to account, asks for a bank  Draft
or say bills pay bills etc  online its should not count?


Anycase I saw banks have not been given a directive by Finance ministry yet.

This can get tricky as their previous usual hasty proposals.

How do you calculate ?

What if someone needs  Rs 1.2 million for house repair? Should he get taxed too?

What if they need to withdraw Rs 2 laks in CAsh at a time for 6 times within 1 month

Are they going to accumute it?




 

chutiputha wrote:How this will effect ?

The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.

slstock wrote:Chuti,

Smart guy.
This is something I was intending to say  on the Bank budget effects thread.
( I meant your last  2 lines  

So     is good .

ps : Chuti, what up with you? When you first came you used rep system a lot.
Now I see you use it very little. What made the change?

chutiputha wrote:Sir,as i feel this is a red light of Saving(Deposit) money @ Banks,It's a better keep money in a safe place,other than Bank.

People will go for alternative services        

slstock wrote: I presume this is for CASH only withdrawals.  
If you transfer online within account to account, asks for a bank  Draft
or say bills pay bills etc  online its should not count?


Anycase I saw banks have not been given a directive by Finance ministry yet.

This can get tricky as their previous usual hasty proposals.

How do you calculate ?

What if someone needs  Rs 1.2 million for house repair? Should he get taxed too?

What if they need to withdraw Rs 2 laks in CAsh at a time for 6 times within 1 month

Are they going to accumute it?




 

chutiputha wrote:How this will effect ?

The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.

chutiputha wrote:Oh is that So...? Actually i didnt notice it...there is no any simple change of my mind.
Tend to re use as previous

slstock wrote:Chuti,

Smart guy.
This is something I was intending to say  on the Bank budget effects thread.
( I meant your last  2 lines  

So     is good .

ps : Chuti, what up with you? When you first came you used rep system a lot.
Now I see you use it very little. What made the change?

chutiputha wrote:Sir,as i feel this is a red light of Saving(Deposit) money @ Banks,It's a better keep money in a safe place,other than Bank.

People will go for alternative services        

slstock wrote: I presume this is for CASH only withdrawals.  
If you transfer online within account to account, asks for a bank  Draft
or say bills pay bills etc  online its should not count?


Anycase I saw banks have not been given a directive by Finance ministry yet.

This can get tricky as their previous usual hasty proposals.

How do you calculate ?

What if someone needs  Rs 1.2 million for house repair? Should he get taxed too?

What if they need to withdraw Rs 2 laks in CAsh at a time for 6 times within 1 month

Are they going to accumute it?




 

chutiputha wrote:How this will effect ?

The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.

slstock wrote:Chuti,

Smart guy.
This is something I was intending to say  on the Bank budget effects thread.
( I meant your last  2 lines  

So     is good .

ps : Chuti, what up with you? When you first came you used rep system a lot.
Now I see you use it very little. What made the change?

chutiputha wrote:Sir,as i feel this is a red light of Saving(Deposit) money @ Banks,It's a better keep money in a safe place,other than Bank.

People will go for alternative services        

slstock wrote: I presume this is for CASH only withdrawals.  
If you transfer online within account to account, asks for a bank  Draft
or say bills pay bills etc  online its should not count?


Anycase I saw banks have not been given a directive by Finance ministry yet.

This can get tricky as their previous usual hasty proposals.

How do you calculate ?

What if someone needs  Rs 1.2 million for house repair? Should he get taxed too?

What if they need to withdraw Rs 2 laks in CAsh at a time for 6 times within 1 month

Are they going to accumute it?




 

chutiputha wrote:How this will effect ?

The 2016 budget proposed to charge a certain amount on withdrawals of cash from banks. This proposal stated that a charge of two per cent would be imposed on cash withdrawals of Rs. 01 million to Rs. 10 million and three per cent on cash withdrawals of over Rs. 10 million.

Accordingly, if a depositor withdraws Rs. 01 million from his/her deposits then he/she would have to pay the bank Rs. 20,000 as charges.

Deegoda Gamage wrote:You can see implementation all above recommendations(Washington Consensus)

in recent Budget

I also think no other way

But people with with welfare and anti- American mentality will not tolerate

It will be a big problem in the near future

If the govt can tackle this problem during first six months OKKOMA GODAY

Otherwise UBE KATETH PAS MAGE KATEH PAS.OKKOMA IVARAY