Not good news for account holders of State Bank of India (SBI) and Punjab National Bank (PNB). Both these banks are charging a large amount of fees from their account holders. These money are being collected in the name of different things.
Apart from these two banks, many banks are charging various types of charges from their account holders. This amount is being collected on Zero Balance Account and Basic Saving Account. Based on a research by IIT Bombay, the news agency PTI said that the account holders of the savings account at State Bank of India for every transaction after the fourth transaction in the month 17. 70 rupees have to be paid. This fee is also very heavy on the account holders and it cannot be justified from anywhere. The study also pointed out that the imposition of service charges led to improper collection of over Rs 300 crore from SBI’s approximately 12 crore basic savings bank deposit account holders during the period 2015-20. Meanwhile, Punjab National Bank has earned Rs 9.9 crore from 3.9 crore account holders.
Violation of RBI rules
The report states “Some banks are in violation of RBI regulations regarding saving accounts. Especially the state banks which have the most savings accounts. This bank is Rs. 17.70 for every transaction if there are more than 4 transactions in a month.” Charges. This also includes digital payments. ” IIT Bombay professor Ashish Das said that through these service charges, State Bank has earned more than Rs 300 crore from 12 crore savings account users between 2015 and 2020. 72 crore between 2018 and 2019 and Rs 158 crore between 2019 and 2020.
What is the rule of the Reserve Bank
According to the Reserve Bank of India guidelines released in 2013, Savings Account account holders are allowed to do more than four transactions in a month. For this, the bank can make its own rules but cannot take the money. Apart from this, the bank can also provide other services to the account holders on their own free will, but no fee will be charged for these. The Reserve Bank sees them as a value-added service if there are more than four transactions within a month.
Loss of account holders due to negligence of Reserve Bank
The study of IIT Bombay stated that the Reserve Bank did not notice which bank is violating its guidelines. For this reason, IDBI Bank has also started charging 20 rupees for making digital payments. The bank charges 40 rupees even for more than 10 ATM transactions. However, later the government showed strictness on the matter and asked the banks to return the money to the people. Despite this, the Reserve Bank needs to change the rules of charging 17.70 rupees of the State Bank.
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