Government has not pleaded reconsideration of penalty charges, SBI
Posted on: 10/Mar/2017 11:33:15 AM
The government has not made any official communication request reconsideration of penalty charges towards non-maintenance of minimum balance, clarifies state-run lender State Bank of India.
On Tuesday, there were reports stating that the government urged banks with modify their penalty charges towards non-maintenance of minimum balance and other banking transactions those involving cash and without too.
Now, trusted sources claim that Rajnish Kumar, Managing Director of National Banking of State Bank of India has confessed that no such formal communication is made from the government sources, however discussions about the same are on.
Penalty towards minimum balance non-maintenance
With effect from 1st April, the SBI had planned to charge penalty towards non-maintenance of minimum balance. The minimum balance maintenance limit was increased to Rs 5000 at 6 metro cities, and the same is Rs 3000 and Rs 2000 for urban and semi-urban regions respectively. Based on the type of account, the penalty will vary as Rs 20, Rs 50 or Rs 100. And for current account, the penalty would be Rs 500. This initiative will hit more than 31 crore SBI account holders.
