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VERIFIEDET Finance·negative
Cost of free alerts: RBI’s SMS order may dent banks’ income by Rs 300 crore
AI Summary
- ·The RBI's new SMS alert order could reduce bank income by Rs 300 crore.
- ·Banks can now choose to stop sending mandatory alerts for low-value transactions.
- ·Top private banks like HDFC Bank and ICICI Bank are expected to continue sending all SMS alerts to maintain their reputation.