Govt asks SBI to reconsider minimum balance penalty

1488827854-1937.jpg
The government on Monday asked State Bank of India(SBI) to reconsider its decision to levy penalty on non-maintenance of minimum balance, which the bank plans to hike manifold from April 1 impacting over 310 million savings bank account holders.

SBI, according to a source, has also been asked to reconsider charges it proposes to levy on cashtransactions and ATM withdrawals over specified limits.

The country’s largest lender has announced imposing penalty ranging from Rs 20-100 on non-maintenance of minimum average balance (MAB) in savings bank accounts from April 1.

The penalty is as high as Rs 500 in case of current accounts.

The penalty for breach of MAB is being reintroduced after a gap of five years.

The bank has also increased the minimum balance requirement by many times, which is as high as Rs 5,000 for account maintained with branches in six metro cities. Read More

Comments

Post a Comment

Popular posts from this blog

Infinix Smart 2 review: 'Value for money' smartphone with tall 18:9 screen

Image
Transsion Holdings, a Hong Kong-based smartphone company, is one of the top five leading mobile phone manufacturer in India, according to recent report by IDC. The company is known for Infinix, Tecno, itel and Spice branded smartphones. It operates in affordable entry level and midrange segment. Under its premium Infinix brand, the company recently launched the Infinix Smart 2 , an entry-level budget smartphone with 18:9 aspect ratio screen and a large 3,050 mAh battery. Priced at Rs 5,999 for the base model, the Infinix Smart 2 is a feature-rich proposition in entry-level budget smartphone segment. It is targeted to consumers moving from feature phones to smartphones. The Android-based smartphone features dualSIM slots and 4G VoLTE-capabilities. Interestingly, the phone comes in two RAM and storage configurations – 2GB/16GB and 3GB/32GB. The premium 3GB RAM variant is priced at Rs 6,999. In terms of design, the Infinix Smart 2 offers no-frill design with a removable plas...
Read more

Year in review: From OnePlus to Asus, best midrange flagship phones of 2019

Image
Best flagship smartphones 2019 : Affordable flagship smartphones are value-for-money products that offer top-notch specifications and features for a midrange price. In the past couple of years, this segment has been dominated by Chinese smartphone brand OnePlus. In 2019, however, other smartphone brands also got a toehold in this space with products that boasted specifications and features otherwise found only in premium smartphones. Here are top five affordable flagship smartphones (priced under Rs 40,000) that were launched in 2019: Asus ROG Phone II Asus ROG Phone 2Primarily a gaming-centric smartphone, the ROG Phone II from the stable of Taiwanese electronics maker Asus is an all-round smartphone offering the best of flagships at an affordable price. From an AMOLED screen with a high refresh rate to stereo speakers and high-capacity battery, this smartphone exceeds expectations and gives the best value for money in the midrange flagship segment. If there is any phone ...
Read more

OnePlus 8 review: Meaningful innovations elevate experience, justify price

Image
Smartphone makers now bring at least two models of each of their premium smartphones – one that maxes out on everything to show the maker’s innovation competence, and second that does not compromise on flagship specifications and features but cuts corners on some lesser features to keep the price low and reach the masses. The  OnePlus  8 belongs to the latter category of premium smartphones. A successor to the  OnePlus  7T, the  OnePlus  8 brings seasonal upgrades like Qualcomm’s flagship Snapdragon 865 system-on-chip, big-capacity battery, new design and a screen with a punch hole for front camera. However, the company has downgraded the rear camera set-up of the OnePlus 7T by taking away the 2x optical zoom telephoto sensor. So, where does the OnePlus 8 in 2020 with all its upgrades, and a downgrade? Let’s find out: Design The OnePlus 8 has a minimalistic design and premium build. It retains the glass-metal sandwich design of its ...
Read more