Please refer to BPD Circular No. 23 dated 4th July, 2003 on the above subject.

2. It has come to our notice that some of the banks are recovering service charges from the students of Educational Institutions for the collection of their educational fees. Since the collection of school fees by the bank is the deposit of money on account of its client i.e. Educational Institution, recovery of any charge from the students is not justifiable.

3. All the Banks are, therefore, advised not to levy any service charges for collection of fees from students of Educational Institutions in any manner whatsoever.

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