The revised charges would be effective from April 1, 2018.
SBI has reviewed its minimum balance requirement following a finance ministry report which showed that SBI collected Rs 1,771 crore during April-November 2017 as a penalty from customers for non-maintenance of monthly average balance in savings accounts.
SBI slashes penalty for non-maintenance of minimum balance by up to 75%
The bank said in a release that customers in metro and urban centres will now have to pay Rs 15 per month plus GST. Failing to do so a penalty of Rs 50 (urban), Rs 40 (semi-urban), Rs 30 (rural) was charged on the bank account holder.
RBI guidelines mandate that charges for non-maintenance of minimum balance in savings bank accounts be "reasonable".
For urban and metro customers average monthly balance is of Rs 3,000 per month.
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Amendola is also an experienced return specialist, which could mean he'll push receiver/returner Jakeem Grant for his role. He led the team in catches (26) and receiving yards (348) and was second in touchdowns with two.
On reduction of charges, P K Gupta, MD - Retail & Digital Banking, SBI said, "We have reduced these charges taking into account the feedbacks and sentiments of our customers".
If you are not an SBI customer, you will have to continue to be vigilant about the average balance in your bank account - unless it is a zero balance account, like a salary account and the financial inclusion accounts. The move had invited widespread criticism.
In this case, the SBI Bank has replaced the penalty again. The first thing to understand is the importance of the word "average".
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Rashford has scored three times in seven Champions League games this term, and he'll be aiming to add to that record if given the chance to do so against Sevilla.
For instance, the basic formula for calculating MAB is dividing the sum total of all end-of-day (EOD) closing balances in your bank account by the number of days in that month, including holidays. The rate of interest is same as savings bank account.
Shifting to BSBD account is even more convenient and flexible, because there is no charges levied by SBI on them. This amount was more than SBI's net profit for the July-September quarter. Of these, 16 crore accounts are under the Pradhan Mantri Jan Dhan Yojna, BSBD, pensioners and minors, which are all exempt from the penalty for not maintaining the minimum balance.
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Tillerson was also often out of step with Trump on foreign policy, most notably with issues involving North Korea. But the White House distanced itself from those remarks , and a few days later, Mr Tillerson himself backed off.