 "State Bank of India, SBI")
The State Bank of India (SBI) netted a windfall of Rs 17.72 billion, more than its second quarter profit, from customers for non-maintenance of monthly average balance in savings accounts in eight months of 2017-18, the finance ministry data showed.
SBI has close to 405 million savings account customers. The lender, after a gap of six years, had reintroduced the monthly average balance charges from April 1, 2017. After criticism by customers, it had reduced those charges effective October 1.
“On an average balance of Rs 3,000 in metro, SBI earns Rs 6 only per month whereas for
SBI has close to 405 million savings account customers. The lender, after a gap of six years, had reintroduced the monthly average balance charges from April 1, 2017. After criticism by customers, it had reduced those charges effective October 1.
“On an average balance of Rs 3,000 in metro, SBI earns Rs 6 only per month whereas for
