The RBI today asked banks to charge customers for transaction SMS alerts on the basis of usage, instead of imposing a fixed fee, to ensure equity and be reasonable. "Banks are advised to leverage the technology available with them and the telecom service providers to ensure that such (SMS) charges are levied on all customers on actual usage basis," theReserve Bank of India said in its Second Quarter Review of Monetary Policy 2013-14. It said fees based on actual usage are necessary to ensure reasonableness and equity in charges levied by banks.
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