https://www.taxtmi.com/news?id=21781 Banks must not charge minimum balance penalties on Basic Savings Bank Deposit (BSBD) accounts, which are entitled to certain free basic facilities. For other savings accounts, banks may impose service charges for non maintenance of minimum balance under their Board approved policy and the customer service master circular. Reported collections from such penalties by selected public and private banks are presented for recent financial years, with noted reductions partly due to fee changes by a major bank. en-us Tue, 23 Jul 2019 18:21:24 +0530 Tue, 23 Jul 2019 18:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21781 Banks must not charge minimum balance penalties on Basic Savings Bank Deposit (BSBD) accounts, which are entitled to certain free basic facilities. For other savings accounts, banks may impose service charges for non maintenance of minimum balance under their Board approved policy and the customer service master circular. Reported collections from such penalties by selected public and private banks are presented for recent financial years, with noted reductions partly due to fee changes by a major bank. News - Tue, 23 Jul 2019 18:21:24 +0530 https://www.taxtmi.com/news?id=21781