New Delhi: The figure will surprise you if the country's largest bank State Bank of India has not paid a fixed monthly average deposit in its accounts. In the first quarter of the current financial year, SBI has imposed a fine of Rs 235.06 crore on non-maintenance of minimum balance with its customers. These fines were collected from a total of 388.74 lakh accounts.
Information found under RTI:
Chandrasekhar Gaur, a social worker from Nimach, Madhya Pradesh, asked this question to SBI under Right to Information (RTI). The bank has given this information in response. SBI has said in reply to Gaur on August 5, "The amount collected in the quarter ended June 30, 2017, due to not keeping monthly average balance, is Rs. 235.06 crore and the number of (related) accounts is 388.74 lakhs."
Fine has been imposing on the account holders who are maintaining low balance:
In reply to the bank sent under RTI, however, it has not been clarified that in case of fixed monthly average deposit amount no deduction has been done from the accounts of which category. But Gaud says that this recovery is affecting the customers of the poorest section, who collect and withdraw small amounts in savings accounts in SBI.
Gaud said that the bank should undertake a review of the rules of the charges in the economic interests of the weaker sections, because most of this section customers can not deposit large sums of money in the long run in their accounts. As a result, fees are kept from their accounts.
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