The Government clarified that banks can levy charges for non-maintenance of minimum balance as per RBI guidelines. Such fees must remain reasonable, transparent, and aligned with service ...

Usually, when you open a deposit or savings account, or even a business current account, account holders must maintain a minimum balance. While these accounts earn you interest over time, they also ...

In a powerful speech in Parliament, Raghav Chadha raises serious concerns over the burden of minimum account balance (MAB) ...

Public sector banks collected over Rs 8,000 crore as penalties for not maintaining minimum balance in the last three financial years. The Finance Ministry has clarified whether the government plans to ...

Former Rankin borough manager faces court over alleged misuse of credit card ...

Customers are generally provided time to restore the required minimum balance before penalty charges are applied as per extant regulatory guidelines.

India, March 10 -- About 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including those under the PM Jan Dhan scheme, ...

Banks have collected around Rs 19,083 crore as penalties over the past three years. Out of this, public sector banks accounted for about Rs 8,092.83 crore, while the remaining amount was collected by ...

Bank Rules For Minimum Balance: If your account balance falls below the required minimum, the bank may deduct a penalty charge. This amount varies depending on the specific type of account and the ...

Rules like “don’t carry a balance” or “keep a low utilization ratio” make sense in normal times, but you might have to ignore them during a financial crisis.

FM says 72 crore Basic Savings & Jan Dhan accounts face no penalty for not maintaining minimum balance. PSBs reviewed service charges.