December1st will bring with it certain changes directly affecting you, including banking, aviation and those where you will have to shell out more from your pocket. While there are some changes relating to banking services, there also some that will put you at ease. From news for pan card holders to those using internet banking facility of SBI, here are 8 points that may affect you: 1. Some customers of […]
As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data. India’s largest lender State Bank of India, which suffered a staggering net loss of Rs 6,547 crore during 2017-18, led the pack in penalising its customers for not maintaining minimum account balance. The government-owned SBI, […]
Minimum Balance Rules, Penalty For Insufficient Balance In SBI Savings Accounts State Bank of India (SBI), the largest lender of the country, requires customers to maintain a certain minimum balance in its savings accounts, except for some like the basic savings bank deposit account. Minimum balance requirements of SBI vary according to the location of the SBI branch in which a customer opens his account. With effect from the start […]
The State Bank of India has asked more than 70,000 employees of its former associate banks to return the compensation they received for working overtime on days following demonetisation in 2016, India Today reported on Monday. The public sector bank added these employees to its workforce after the State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of […]
The country’s largest lender, State Bank of India (SBI), collected Rs. 1,771 crore between April-November 2017 as charges from customers for failing to maintain monthly average balance in their accounts. This is more than Rs. 1,581.55 crore that it earned as net profit in September quarter. The bank on Tuesday clarified on its charges for non-maintenance of minimum balance on savings accounts. “SBI’s metro branches earn Rs. 6 per month […]
If you are an account holder in State Bank of India (SBI), the country’s largest lender, there are a few changes that you need to be aware of. If you haven’t read about them, here they are: 1) Cut in MAB: The bank has decided to treat the metro and urban centres in the same category as far as average minimum account balance (MAB) maintenance is concerned. What this means is […]
Amid the controversy over public sector lender SBI reportedly writing off loans worth Rs. 7,000 crore, including that of Vijay Mallya-promoted Kingfisher Airlines, a sanitation worker in Nashik has written to the SBI, seeking a ‘similar’ waiver of his Rs. 1.5 lakh loan. Bhaurao Sonawane, a safai worker with the Tryambakeshawar municipal council in Maharashtra’s Nashik district, said he had written to the SBI, seeking waiver of his loan, “in […]
India’s largest public sector bank has dropped more than Rs 7,000 crore, more than 80 per cent of the amount owed to it by its top 100 defaulters, into the Advance Under Collection Account (AUCA) bin for toxic loans With efforts to recover its dues hitting a virtual dead-end, the State Bank of India (SBI) seems to be have started a clean-up of its balance sheets by writing off loans […]
