Students not to pay bank charges

The State Bank has asked all banks to stop collecting service charges from students depositing fees in account of educational institutions.

A circular issued on Tuesday said that banks had been instructed not to levy any service charge on such deposits.

The circular said that charges for pay order, demand draft or any other instrument for payment of fee or dues of educational institutions, HEC, board, etc., may not exceed 0.5 per cent of the amount of fee or dues or Rs25 per instrument whichever is less.