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Biplab's thoughts: Internet reduces Transaction costs-right?

Tuesday, August 12, 2008

Internet reduces Transaction costs-right?

Recently I went to deposit some money in State Bank Of India to an outside account. Deposits to other accounts are done through an Internet banking terminal within the branch but to my surprise they are charging Rs. 25 per transaction.

why you need to pay a transaction fee for internet banking when it is supposed to reduce costs. I am sure other banks don't charge this fee.
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