SBI looks at revising downwards minimum balance amount, penalty

SBI considered the review of the minimum balance and fine as they fully criticized the customer on unexpected gains over Rs 1,771, as they did not maintain their monthly average balance of their savings account on Friday He said.

The country's largest bank owns more than 402 million savings accounts and reintroduces the average monthly balance (MAB) from April 2017 five years later. Therefore, the bank will request a MAB of 5,000 rupees on the subway and 1,000 rupees at the rural account, otherwise it will be fined.

Therefore, during the period from April 2017 to November 2017, banks deducted an unexpected income of Rs. 1,771.67, which exceeds the profit in the second quarter.

"Since the average monthly balance recovered in April, we paid attention to the average monthly balance and we lowered it in October. I am rethinking now." MD Retail and Digital Banking PK Gupta I am here today We talked to the party.

He said that based on the feedback he received, the bank made a comprehensive review of the MAB program, imposed penalties other than maintenance and will be announced shortly.

Currently there are 3,000 Indian rupee MAB and 30 to 50 rupee plus tax non-maintenance penalty in the bank's subway and city accounts.

In sub-urban and rural branches, the amount is fixed at 2,000 rupees and 1,000 rupees respectively, non-maintenance fine ranges from 20 rupees to 40 rupees and taxes. SBI has bank account customers close to Rs. 4,050

SBI resumed the average monthly fee from April 1, 2017, but after having challenged the customer, we had to impose a fine against the minimum balance that can not be maintained from October 1.

From April to October, the Man and Biosphere subway account will be reduced to Rs 5,000 and the cost per account will be reduced to Rs 3,000. Fines will also be reduced from 50-100 rupees to 20-40 rupees, plus taxes.

Bank recently said that the average balance of the subway is 3,000 rupees, the SBI earns only 6 rupees a month, but the minimum outstanding of rural areas is 1000 rupees, and the monthly income is 2 rupees. Corresponding fee generated by bank (free check book, 8 free ATM transactions, free branch transaction)

Banks are exempt from MAB requirements, savings bank accounts such as Jan Dhan Yojana Prime Minister, small accounts and basic savings bank accounts, pensioners, minors and all social beneficiary accounts, the fee is He said that it will not be collected.

National Bank of India (SBI) said on Friday that it is considering changing the minimum balance and fine of that account. As a result of collective counterattacks from customers that SBI failed to maintain the monthly average balance of savings accounts during the eight months from 2017 to 18, this move exceeded 1,771.67 rupees (the second quarter It was more than profit). Currently, banks have different monthly average balance (MAB) requirements for accounts held in different types of branches. These are subway, village, city and half city

On Monday, the government asked Indian Central Bank (SBI) to reconsider the decision to not support the minimum balance of accounts since April 1 based on source. It also requests banks, including private banks, to review cash transactions and ATM withdrawals exceeding certain limits. This is because the National Bank of India, the largest bank in India, did not maintain the monthly average balance of the account, so we decided to restore the cost of the savings account holder. According to the PTI report, the bank had canceled the minimum balance standard of savings bank account several years ago to attract new customers. According to the document, the monthly average monthly balance (MAB) service fee that is not under maintenance will be revised from April 1, 2017.

Providing Consumer Support: The government asked the SBI to review the fine and asked the bank to reexamine the transaction costs