State Bank of India reverses stance on minimum account balance

05 Apr 2012 Evaluate

State Bank of India, country’s largest public sector lender is likely to compel its customers to maintain minimum balance in their savings accounts, at least for now. The bank directed branches to ‘keep in abeyance' the waiver of service charges for non-maintenance of minimum balance.

The bank has passed an e-circular in February for the waiver as a ‘major step forward towards customer retention and acquisition. This is now sought to be reversed and kept in abeyance according to another circular dated April 4.

SBI Share Price

811.85 -9.10 (-1.11%)
24-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
SBI 811.85
Bank Of Baroda 245.20
Canara Bank 100.60
PNB 101.65
Union Bank Of India 118.10
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt. Ltd.