Reportedly Finance minister nirmala sitharaman on tuesday announced that ATM withdrawal charges will be waived off across the board to help citizens in the wake of the novel coronavirus pandemic. She also announced that minimum account balance criteria for bank account holders have also been waived off for a period of three months.
This means banks customers who were required to maintain a minimum specified balance in their savings accounts will not be penalised for not doing so for the next three months.Other than that, the finance minister announced a slew of compliance deadline to help citizens amid the lockdown across 548 districts to curb the spread of the virus in India.
Citizens should also note that income tax filing deadline for the financial year 2018-19 has been extended to june 30, 2020. The last date for filing GST returns for march, april and May 2020 has also been extended to june 30.Many other deadlines for financial schemes and obligations have also been extended to june 30 including the "Vivad se Vishwas" initiative. During the press briefing, Sitharaman made it clear that today’s announcements were mostly related to an extension of compliance deadlines to primarily help citizens and an economic package for the industry will be announced soon.She, however, assured that the government is also working swiftly to come up with an economic package to help the industry tackle Covid-19 pandemic. While nirmala sitharaman did not mention a specific date, she said it will be announced soon.