Banks Minimum Balance Fee
11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance
For the recovery of this charge from account holders, public sector banks have formulated slab structures based on different geographies and segments
 "11 public banks charge Rs 2,331 cr for non-maintenance of minimum balance")
Bank boards can decide on waiving penalty on minimum balance: Karad
The boards of individual banks can decide on waiving the penalty on accounts, which do not maintain a minimum balance, Union Minister of State for Finance Bhagwant Kishanrao Karad on Wednesday said. "Banks are independent bodies. They have boards which can take a decision to waive off the penalty," Karad told reporters here. The minister was responding to a question if the Centre would consider directing banks not to charge any penalty from the accounts where the balance falls below the prescribed minimum levels. Karad was on a two-day visit to Jammu and Kashmir to review the implementation of various financial schemes in the Union Territory. The minister said the banks in Jammu and Kashmir had done a good job over the years and directed them to improve their performance on those parameters where they are lagging behind the national average. "I have told the banks in Jammu and Kashmir to hold Saturday camps to bring the percentage of Jan Dhan Yojana accounts closer to the national
 "Bank boards can decide on waiving penalty on minimum balance: Karad")
PNB earns Rs 170 cr in FY21 as charges for not maintaining min balance: RTI
Punjab National Bank collected nearly Rs 170 crore by levying charges on customers for not maintaining the required minimum balance in their accounts during 2020-21, according to RTI information.
 "PNB earns Rs 170 cr in FY21 as charges for not maintaining min balance: RTI")
Scam-hit PNB nets Rs 1.5 billion in FY18 as below minimum balance penalty
The bank charged Rs 320 million as penalty in the first quarter of FY18, Rs 290 million in the second, Rs 370 million in the third and Rs 530 million in the fourth quarter.
 "Scam-hit PNB nets Rs 1.5 billion in FY18 as below minimum balance penalty")
Banks imposing unreasonable fee for breach of minimum balance: IIT prof
The study, by Ashish Das, showed that some banks like Yes Bank and Indian Overseas Bank have been imposing penal charges of over 100 per cent per annum
 "Banks imposing unreasonable fee for breach of minimum balance: IIT prof")
