Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
23 April, 2018 17:01 IST
SBI reduces charges for non-maintenance of average minimum balance upto 75%
Source: IRIS | 13 Mar, 2018, 10.11AM
Comments  |  Post Comment

State Bank (Q,N,C,F)* of India (SBI) has substantially reduced charges for non-maintenance of Average Monthly Balance (AMB) in savings accounts. The revised charges will be effective from April 01, 2018. This step is taken keeping in view the feedback from various stakeholders.

The charges for non-maintenance of AMB for customers in Metro and Urban centres have been reduced from a maximum of Rs. 50/- p.m plus GST to Rs. 15/- p.m. plus GST.  Similarly for Semi-Urban and Rural centres the charges have been reduced from Rs. 40/- p.m plus GST to Rs. 12/- and Rs. 10/- p.m. plus GST respectively. (Table enclosed below)

P. K. Gupta, MD, Retail & Digital Banking, SBI said, ''We have reduced these charges taking into account the feedbacks and sentiments of our customers. Bank has always focused on keeping the interests of its customers first and this is one of our many efforts towards fulfilling customer expectations. Bank also offers its customers to shift from regular savings bank account to BSBD account on which no charges are levied.''   

The Bank has a very strong deposit franchise having 41 crores Savings Bank accounts out of which 16 crore accounts under PMJDY / BSBD and of pensioner/minors/social security benefit holders were already exempted. In addition, students upto the age of 21 years are also exempted.  The above revision in AMB will benefit 25 cr. customers.

Shares of the bank gained Rs 6.35, or 2.51%, to trade at  Rs 259.50.  The total volume of shares traded  was  627,330 at the BSE (9.59 a.m., Tuesday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Sensex, Nifty end flat; M&M, Sun Pharma top gainers - 23-Apr-2018 16:03
Petrol price touches Rs 74.40, diesel at record high of Rs 65.65 - 23-Apr-2018 13:42
Mahindra Powerol launches new range of high power diesel generators - 23-Apr-2018 13:36
Salasar Techno Engg secures orders worth Rs 490 mn - 23-Apr-2018 13:02
Gujarat Ambuja Exports completes 1st phase of greenfield maize processing plant - 23-Apr-2018 12:58
Sensex rises over 150 points; TCS, M&M top gainers - 23-Apr-2018 12:56
Lupin receives USFDA for generic of Xenazine tablets - 23-Apr-2018 12:52
Indian Hume Pipe surges after new order win - 23-Apr-2018 12:47
Shilpa Medicare rises post EU-GMP approval for three plants - 23-Apr-2018 12:39
Indiabulls Housing Finance quarterly net rises 22.58% - 23-Apr-2018 11:49
Sensex trades 63 points higher; Nifty trades at 10,587 - 23-Apr-2018 10:31
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer