Mumbai: State Bank of India Chairperson Arundhati Bhattacharya said that customers Savings accounts should meet the minimum balance requirement to avoid penalty. It is not made clear in the penalty charges. The avoid the burden of accounts that does not require cash accounts we are taking this decision, added Arundhati. SBI has more than 11 crore such accounts, she said.
It is not only for jandhan accounts apply when there is sufficient cash balance, it will be need to pay fine. After criticism in the wake of the recent announcement that the bank had released, she replied to her statement that If there is no sufficient cash reserve in accounts fine will be issued over the old system will be implemented from April 1.
However, the government had forecast to think once again’s decision to fine if the cash reserve accounts are not enough. So far there is no information on the SBI Managing Director (National Banking) Rajanish Kumar said. If the government insists on the issues, they will think on the penalty. However, existing private banks, ICICI Bank had already stated about penalty charges earlier.