SBI Bank Head - the reason for the increase in minimum bank balance is the Jandhan scheme
Posted on: 09/Mar/2017 5:55:01 PM
The country’s largest public sector bank, the State Bank of India, has decided to impose new conditions and regulations for its customers from 1st April.
As per this revision, the minimum balance in the bank savings account must be Rs. 5000/- in the urban areas and service charges would be collected if the number of transactions using ATMs exceeds 3 times.
Amidst the shock and protest expressed by the customers as a response to the above, The Head of SBI, Arundhati Bhattacharya, explained that there are more than 10 Crores Jandhan Accounts initiated by the Prime Minister Narendra Modi. Additional revenue would be required to maintained this huge number of accounts. So, the above decision was taken to generate the additional revenue.
The ventral government has already appealed to the State Bank of India to review this decision.
