The State Bank of India may reduce its minimum balance requirement to Rs 1,000 from the current Rs 3,000 balance in metros, according to a report in the Economic Times.
The largest Indian bank suffered a huge backlash last week when finance ministry data revealed that it netted a windfall of Rs 17.72 billion, more than its second-quarter profit, from customers for non-maintenance of monthly average balance in savings accounts in eight months of 2017-18.
While SBI's current Rs 3,000 minimum balance requirement for urban areas is highest among all PSBs, it is the lowest among all large private
The largest Indian bank suffered a huge backlash last week when finance ministry data revealed that it netted a windfall of Rs 17.72 billion, more than its second-quarter profit, from customers for non-maintenance of monthly average balance in savings accounts in eight months of 2017-18.
While SBI's current Rs 3,000 minimum balance requirement for urban areas is highest among all PSBs, it is the lowest among all large private