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No penalty for bank balance below min limit: RBI
short by Kabir Khan / on Tuesday, 1 April, 2014
In its first bi-monthly policy on Tuesday, RBI said - "Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to basic savings bank deposit accounts.” Banks, however, say the new regime will lead to higher charges on services for customers.
read more at Times of India