State Bank of India (SBI) has reviewed the requirement of maintaining Monthly Average Balance (MAB) and the charges for non-maintenance of MAB. In this context, SBI would like to state that financial inclusion including JAN DHAN Accounts have never been subject to any charges. In respect of the rest, it has now been decided to exempt the pensioners, beneficiaries of social benefits from the Government and accounts of Minors. Therefore, this is in addition to the already exempted categories under PMJDY accounts and Basic Savings Bank Deposit Accounts (BSBD). The Bank ...
SBI revises service charges on maintaining monthly average balance
For non-maintenance of MAB, the charges have also been revised downward ranging from 20% to 50%
Reuters Last Updated at September 25, 2017 18:49 IST