LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

SBI collects Rs 1,771 crore as charges from below minimum balance accounts

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
SBI collects Rs 1,771 crore as charges from below minimum balance accounts
SBI has 42 crore savings bank accounts, out of which 13 crore are Basic Savings Bank Deposits Accounts and Pradhan Mantri Jan Dhan Yojana accounts. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Tue, Jan 02, 2018
12:22 pm
ZeeBiz WebDesk
RELATED NEWS
Will PNB see any ray of hope; analysts trim down ratings Will PNB see any ray of hope; analysts trim down ratings
Yes bank raises $600 million for five year tenor in maiden international bond issuance Yes bank raises $600 million for five year tenor in maiden international bond issuance
ICICI Bank's Q3FY18 net profit declines by 32% yoy; gross NPA at 7.8% ICICI Bank's Q3FY18 net profit declines by 32% yoy; gross NPA at 7.8%
HDFC clocks three-fold yoy rise in Q3FY18 standalone PAT; to issue bonds of Rs 35,000 crore HDFC clocks three-fold yoy rise in Q3FY18 standalone PAT; to issue bonds of Rs 35,000 crore

State Bank of India (SBI) collected Rs 1,771 crore during April-November 2017 as charges from customers who did not maintain their minimum monthly average balance (MAB) in their accounts, according to Finance Ministry data.
 
According to India Express, this is more than the bank’s July-September quarter net profit of Rs 1,581.55 crore and nearly half of the Rs 3,586 crore it earned as net profit April-September.
 
The report says that SBI did not collect any money from levy of charges for non-maintenance of MAB during the 2016-17 financial year. The charges were re-introduced after a gap of five years during the current fiscal.
 
SBI has 42 crore savings bank accounts, out of which 13 crore are Basic Savings Bank Deposits Accounts and Pradhan Mantri Jan Dhan Yojana accounts, both categories exempted from levy of such charges.
 
Punjab National Bank also recorded a highest collection of Rs 97.34 crore through levy of such charges during the April-November period.
 
Most banks, including private banks, levy charges for non-maintenance of MAB. 
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Banking & financial serviceState Bank of IndiaFinance MinistryBasic Savings Bank Deposits AccountsPradhan Mantri Jan Dhan Yojana
RELATED NEWS
Will PNB see any ray of hope; analysts trim down ratings Will PNB see any ray of hope; analysts trim down ratings
Yes bank raises $600 million for five year tenor in maiden international bond issuance Yes bank raises $600 million for five year tenor in maiden international bond issuance
ICICI Bank's Q3FY18 net profit declines by 32% yoy; gross NPA at 7.8% ICICI Bank's Q3FY18 net profit declines by 32% yoy; gross NPA at 7.8%
HDFC clocks three-fold yoy rise in Q3FY18 standalone PAT; to issue bonds of Rs 35,000 crore HDFC clocks three-fold yoy rise in Q3FY18 standalone PAT; to issue bonds of Rs 35,000 crore
Axis Bank's Q3FY18 net profit comes at Rs 726 crore; gross NPAs stable Axis Bank's Q3FY18 net profit comes at Rs 726 crore; gross NPAs stable

LATEST NEWS

Tech analysis on Big Bull Rakesh Jhunjhunwala stocks: Tata Motors, Titan, Lupin and Escorts

Nestle India share price: Jefferies revises price target to Rs 18100

PUBG Mobile Lite Season 22 Update: Check release date, timings, APK download link and MORE!

Redmi Note 10 series India launch: Check first look, key specs and other details here

Stocks to buy with Anil Singhvi: Buy NBCC for bumper returns - Special Pick

Mid-cap Picks with Anil Singhvi: Minda Corp, Bodal Chemicals, Aditya Birla Fashion are stocks to buy

Oppo Find X3 series to launch on March 11; Check all details about this upcoming smartphone NOW!

This is why Bill Gates prefers Android over iPhone

CG Police Recruitment 2021: Chhattisgarh DEF Constable result decaled on cgpolice.gov.in —Download it this way

Modi government creates RECORD! New feat achieved in highways construction - Nitin Gadkari confirms this

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved