SBI closes 41.16 lakh savings bank accounts as minimum balance penalty, is yours still open?
SBI had re-introduced the non-maintenance of average monthly balance charges in April last year after the charge was abolished around 6 years ago. The bank had yesterday announced a 75 per cent cut in penalty, effective April 1, for non-maintenance of minimum balance. So, the question on everyone's mind is whether their account has been spared or not. And the only way to find out is to rush to the bank to find out in person
SBI savings back accounts closure: Of the 41 crore savings bank accounts the bank has, 16 crore are under the Pradhan Mantri Jan Dhan Yojna/ basic savings bank deposit (BSBD) and of pensioner, minors, social security benefit holders. Image source: PTI