The banks in the country have seized around 10,000 crore rupees from the public in the last three year for not maintaining a minimum balance in the savings accounts. 22 Scheduled banks including nationalized banks have collected this money. In 2018-19, the amount collected by the nationalized bank has decreased but the share of private banks increased.
The banks instruct that there should be a minimum balance in the savings accounts. This amount varies in different banks. In State bank of India, it Rs.3000 for semi-urban areas and Rs.2000 for rural areas. For HDFC in the metro, it is Rs.10000 and semi-urban areas it is Rs.5,000 and in rural areas, it is Rs.2000. For ICICI bank in metros, it is Rs.10,000, semi-urban Rs.5,000 and in rural areas, it is Rs.25,00.
SBI takes a fine of Rs.10 to 15 for not maintaining a minimum balance. In HDFC it is from Rs.150 to 600 in metro and semi-urban and in rural areas, it is Rs.270 to 450. In ICICI it is Rs.100 and 5% of the amount that is less in minimum balance.
The banks did not ask to maintain a minimum balance for Jandhan accounts and salary accounts.
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