https://www.taxtmi.com/news?id=52157 Banks retain discretion to set minimum balance requirements for savings accounts and this is outside the Reserve Bank of India's regulatory remit. Practices vary across lenders: a private bank recently raised minimum average monthly balances for new accounts, while several public sector banks have waived penalties or lower requirements and Jan Dhan accounts are exempt. The Governor linked account utility to digital literacy, government insurance and pension schemes, and the need to update KYC to keep basic accounts functional. en-us Mon, 11 Aug 2025 16:46:03 +0530 Mon, 11 Aug 2025 16:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52157 Banks retain discretion to set minimum balance requirements for savings accounts and this is outside the Reserve Bank of India's regulatory remit. Practices vary across lenders: a private bank recently raised minimum average monthly balances for new accounts, while several public sector banks have waived penalties or lower requirements and Jan Dhan accounts are exempt. The Governor linked account utility to digital literacy, government insurance and pension schemes, and the need to update KYC to keep basic accounts functional. News - Mon, 11 Aug 2025 16:46:03 +0530 https://www.taxtmi.com/news?id=52157