Sunday 22 Jul, 2018

Minimum balance in account; SBI Forced to withdraw the condition

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Mumbai: SBI withdraws the mandatory rule to maintain minimum balance of Rs. 3000 / - in the bank accounts of customers. The government was pressurized SBI after the nationwide protest of people against the rule. After this, SBI was forced to make the change.

According to reports State Bank of India has decided to replace the rule to maintain minimum balance of Rs 1000 in consumer’s accounts. But it is not officially confirmed by SBI.

SBI has taken a stake in customers who do not retain minimum balance.

Banks have levied Rs 2,320 crore in the last eight months from April to November. According to the data, State Bank of India has levied Rs.1,771 crore from the customers with this rule.

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