New Delhi: The government asked all banks to keep the minimum balance in the accounts. However, if any exception on the accounts found, then the officials will give the reason behind that.
As per the norms, banks should inform the changes in the accounts one month before. The norms were given by Minister of State for Finance Santosh Kumar Gangwar on the written letter to the Rajya Sabha.
Santosh, referring to the RBI guidelines in his statement, stated, "Banks may finalize a suitable slab structure for recovery of charges. Banks should also ensure that such penal charges are reasonable and not out of line with the average cost of providing the services."
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