SBI has stopped 41 lakh accounts
The country’s largest bank State Bank of India (SBI) has closed 41.16 lakh accounts between April 2017 and January 2018. In response to an RTI application by the bank, the bank said that these accounts have been closed due to non-maintenance of minimum balance maintenance. It is worth mentioning that in April 2017, SBI mandated minimum balance mortgage.
The country’s largest bank State Bank of India (SBI) has closed 41.16 lakh accounts between April 2017 and January 2018. In response to an RTI application by the bank, the bank said that these accounts have been closed due to non-maintenance of minimum balance maintenance. It is worth mentioning that in April 2017, SBI mandated minimum balance mortgage.
Madhya Pradesh resident Chandrashekhar Gaud, an RTI activist, sought information about this, in which a senior bank official said that due to the minimum balance maintenance, the bank has stopped accounts by 41.16 lakhs. In the RTI, the information was sought from the bank, how many accounts have been closed since April 1, 2017, when the Minimum Balance Charge was implemented?
State Bank has 41 crore savings accounts. Out of which, 16 crore accounts are from the Prime Minister’s Jnanna Yojana and pensioners, miners and social security benefits holders, who are exempt from making minimal balance mortgage. SBI has charged Rs 1,771.67 crores between April 2017 and November 2017 through Minimum Balance. The bank was strongly criticized for this.