PNB 0 Balance: Punjab National Bank has recovered Rs 35.46 crore under Quarterly Average Balance in the financial year 2020-21.
PNB 0 Balance: Punjab National Bank has recovered Rs 170 crore from its customers. This amount is taken from the customers who do not maintain minimum balance in the account. PNB has given this information on the information sought under the Right to Information. This recovery is for the last financial year 2020-21. In the financial year 2019-20, this figure was 286.24 crore. Punjab Bank charges the fee on quarterly basis.
35.46 crore recovered in quarterly average
Punjab National Bank has recovered Rs 35.46 crore under Quarterly Average Balance in the financial year 2020-21. In the second quarter of the last financial year, the bank did not levy any charges. At the same time, a penalty of Rs 48.11 crore has been imposed in the third quarter and Rs 86.11 crore in the fourth quarter.
74.28 crore recovered from ATM fee
Madhya Pradesh’s social worker Chandrashekhar Gaur had sought this information from PNB under ITI. The bank has collected Rs 74.28 crore as ATM charges in the last financial year and Rs 114.08 crore in 2019-20. It has been revealed in the RTI that in the first quarter of the last financial year, Punjab National Bank had given relief in ATM charges following the instructions of the Central Government. In response to a question, the bank said that 4,27,59,597 accounts were closed as of June 30, 2021.
GDP growth rate negative
There has been a lot of opposition to the recovery of money for not maintaining a minimum balance in the bank account. It is argued that the most financially weak people are among those who do not keep balance in the bank. The country is facing the problem of slow growth rate for many years. The GDP growth rate remained negative in the financial year 2020-21.
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