Wednesday, March 14th, 2018


State Bank Of India Closes 41.16 Lakh Savings Accounts

Indore: State Bank of India has closed as many as 41.16 lakh savings accounts between April-January in the current fiscal year for not maintaining the average monthly balance, reveals an RTI query. Last April, the nation’s largest lender had re-introduced the penal charges on non-maintenance of average monthly balance after a gap of five years. Later in October, it had revised down the charges to some extent. “Due to provisions of penalty on non-maintenance of minimum balance, the bank has closed 41.16 lakh savings bank accounts between April 1, 2017 andRead More