SBI reduces minimum balance charges to Rs 15: Check out new rates

New Delhi: Country’s largest lender State Bank of India (SBI) on Tuesday reduced the minimum balance charges for non-maintenance of average minimum balance by up to 75 percent. Charges for non-maintenance of average minimum balance in Metro and Urban centres have been reduced from maximum of Rs 50 per month plus GST to Rs 15 … Read more

Balance in inoperative accounts

(SUBHASH CHANDRA AGRAWAL) Huge balance is lying in inoperative accounts in banks with even many account-holders having forgotten about their bank-accounts. Reserve Bank of India (RBI) has introduced Know-Your-Customer (KYC) forms which has been made mandatory also for closing such inoperative accounts. Such cumbersome practice not only is causing difficulty to account-holders wishing to close … Read more