I must admit, Indian Banks are street smart. Banks always find out way around to protect their turf (Read: Income). Non Maintenance of Minimum Balance is a major issue for the banks to handle. Banks incur cost for maintaining and servicing the Savings Account. Banks recover this cost by imposing minimum balance criterion i.e. an amount which should be retained in the savings account on a regular basis to recover such cost. Charges levied for Non Maintenance of Minimum Balance generate substantial revenue for any bank. It is one of the most widely imposed penalty by any bank. It will not be an ... Read More
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