Latest News on Minimum Balance
Showing of 0 - 10 from 13 results
Minimum Balance - Total results - 13
Jun 10, 2019
RBI relaxes norms for no-frills accounts; banks will provide cheque books, other facilities to basic account holdersBanks will now provide cheque books and other facilities to basic account holders, with the Reserve Bank of India relaxing the norms on Monday
Aug 05, 2018
Indian banks collect Rs 5,000 crore from customers in 2018 for breaching minimum balance; SBI, HDFC lead packAs many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data.
Jul 17, 2018
PNB collects Rs 151.66 cr as below minimum balance penalty in FY18, reveals RTI queryThe bank charged Rs 31.99 crore as a penalty in the first quarter of FY18, Rs 29.43 crore in the second, Rs 37.27 crore in the third and Rs 52.97 crore in the fourth quarter, PNB said in the RTI reply
Mar 14, 2018
State Bank of India closes 41.16 lakh savings accounts for not keeping minimum balanceLast April, State Bank of India had re-introduced the penal charges on non-maintenance of average monthly balance after a gap of five years.
Oct 03, 2017
SBI waives off account closure fee: After new minimum balance rules, it is a good move for customerSBI has made it easier to for customers who can't afford to conform to minimum balance rules to close their regular savings accounts and migrate to other no-frills accounts.
Sep 29, 2017
Have an SBI account? Just a reminder about the rule changes that will impact you from SundayThe revision in minimum account balance is likely to benefit another 5 crore account holders, SBI said.
Sep 18, 2017
Minimum balance: SBI looks to amass Rs 2,000 cr penalty, to partly use it for Aadhaar-PAN linkingFrom 1 April, SBI made it mandatory for savings bank accounts in metropolitan cities to maintain Rs 5,000 as minimum balance, Rs 3,000 in urban areas, Rs 2,000 in semi-urban areas and Rs 1,000 in rural areas, failing which a penalty is levied.
May 23, 2017
Paytm Payments Bank starts operations: Check out what's on offer for the customers hereThe customer will have to spend Rs 100 for a 10-leaf cheque book, i.e. Rs 10 per leaf
Apr 03, 2017
SBI faces boycott on 6 April: Why the anti-customer minimum balance rule needs to goEven if the boycott extends only to SBI and its subsidiaries, it would be a resounding success as it would send the right signals to banks looking to follow suit; they would be halted in their tracks
Mar 07, 2017
SBI's decision to charge on monthly minimum balance may lead to consolidation of family accountsAt a time when the accent is on digitisation of payments that is impossible without banking support, the regressive moves of these banking biggies would have the effect of repelling people from the banking habit and retreat to the old habit of piling up cash and paying in cash