Night Parking on Roads

BMC (Bombay Municipal Corporation) will now allot roadside slots in front of buildings only to cars already registered on that address. Many in Mumbai, who do not own parking slots in their buildings, park on the road outside. BMC says it will issue one roadside parking permit per flat on that road. However, this may not be enough to accommodate all the cars. It will be the responsibility of individual housing societies to allot the slots to residents and pay the BMC. The slots will be allotted for particular cars and the numbers will be recorded by the BMC. Even the person who rents the slot cannot keep any other car there. The penalty for misuse of the slots would be Rs50 each time.

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Free ATM Use May Be Curbed

The Indian Banks’ Association is lobbying to make ATM transactions, including the own-bank ones, chargeable beyond five uses per month, in view of the rise in costs due to additional security measures being put in place following the Bengaluru incident where a person was brutally attacked at the ATM.

SBI chairman, Arundhati Bhattacharya, too, has backed the idea of charging customers for transactions, adding that a commercially-viable model is needed for ATM network expansion. Barring in a few states, ATM operations of SBI are making losses, she said. She did not name the states where the ATM segment is making money. She said that SBI cannot subsidise ATMs forever. However, while arguing for charging more and more, banks never provide any detail about how they are losing money and the costs and benefits of various banking facilities, especially technology-driven ones.
 

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Fortnightly Market View: Political Winds as Volatile as Markets!

If AAP is reduced to a sideshow, the bulls will feel confident

What a difference a...

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