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DeepNewz, mobile.
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Public Sector Banks (PSBs) in India have collected Rs 8,500 crore in penalties from customers who failed to maintain a minimum balance in their savings accounts between FY20 and FY24. This significant revenue highlights the financial burden on customers for not adhering to minimum balance requirements. In FY24 alone, PSBs charged Rs 2,000 crore for not keeping the minimum balance.
#MCProOpinion | Banks have made a fortune by charging penalties from customers who don’t keep minimum balance in their accounts in the last five fiscal years. Should banks alone be blamed for such action? Read this piece by @Dinesh_Unni https://t.co/5skIpIETH9 #Banks
Public Sector Banks have collected a whopping Rs 8,500 crore in penalties from customers failing to maintain a minimum balance in savings accounts between FY20 and FY24. This windfall reveals the hefty cost of keeping your account in check. #DIU #Banking https://t.co/OBv1XjKyUN
Your bank earned massive Rs 8500 crores just because you didn't maintain minimum account balance! https://t.co/ftyoFAx7Mx
