State Bank of India, the country’s largest state-run bank, has given relief to 45 crore customers. SBI has reduced the minimum balance limit for metro and rural areas. Now the average monthly balance has been raised to Rs 3000 for metro and urban cities and Rs 1000 for rural areas. Along with this, the charge on not maintaining the minimum balance has also been reduced.
About 45 crore customers will get relief from this new rule of SBI. Charge of Rs 5-15 and GST is levied separately for not maintaining minimum balance. SBI implemented the minimum average balance charge in April 2017. Talking about metro cities like Delhi, Mumbai, Kolkata, Chennai etc the minimum balance will be reduced by 50% to Rs 10 plus GST as fine. If it is reduced by 50-75 per cent, then the charge will be Rs 12 plus GST. If the balance of the account holder decreases by more than 75 per cent, then Rs 15 and GST will be charged as fine.
0 Comments