How much do banks earn from minimum balance penalties? Government data reveals ₹26,170 crore in 4 years
· livemint.com
Banks collected over ₹26,170 crore from customers as minimum balance penalties between FY23 and FY26, according to a Rajya Sabha reply. While most public sector banks have now scrapped such charges on savings accounts, private lenders continue to collect thousands of crores annually.
Banks collected more than ₹26,170 crore from customers as penalties for failing to maintain the minimum average balance (MAB) in their accounts over the four ...