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Total amount of Rs. 3489.52 crore had been collected by public sector banks (PSBs) in India for non-maintenance of minimum balance in savings bank (SB) account in 2017-18, up by 276.69% against Rs. 926.36 crore in 2016-17. During 2018-19 (till september 2018), total amount of Rs. 989.15 crore had been collected by PSBs in India for non-maintenance of minimum balance in SB a/c. The top 10 PSBs with respect to amount of charges collected for non-maintenance of minimum balance in SB account in 2018-19 (upto september 2018) were State Bank of India, Punjab National Bank, Indian Bank, Bank of Baroda, Central Bank of India, Oriental Bank of Commerce, Canara Bank, Andhra Bank, IDBI Bank Ltd. and Syndicate Bank.
Amount of Rs. 459.88 crore had been collected by State Bank of India for non-maintenance of minimum balance in SB a/c in 2018-19 (till sep 2018), but it was Rs. 2433.87 crore during 2017-18 and Rs. 0 crore during 2016-17. This bank accounted 46.49% of the total amount collected by PSBs in India for non-maintenance of minimum balance in SB a/c in 2018-19 (upto sep 2018). Punjab National Bank collected Rs. 112.36 crore during 2018-19 (upto sep 2018) for non-maintenance of minimum balance in SB a/c, where as it was Rs. 130.64 crore and Rs. 151.67 crore in 2016-17 and 2017-18 respectively. This bank accounted 11.36% of the total amount collected by PSBs in India for non-maintenance of minimum balance in SB a/c in 2018-19 (till sep 2018). There was collection of Rs. 74.55 crore by Indian Bank for non-maintenance of minimum balance in SB a/c during 2018-19 (till sep 2018), but it was Rs. 88.38 crore in 2017-18 and Rs. 41.01 crore in 2016-17. This bank accounted 7.54% of the total amount collected by PSBs in India for non-maintenance of minimum balance in SB a/c in 2018-19 (upto sep 2018).
During 2018-19 (upto september 2018), Bank of Baroda and Central Bank of India collected Rs. 66.59 crore and Rs. 55.02 crore respectively for non-maintenance of minimum balance in SB a/c. Bank of Baroda accounted for 6.73% and Central Bank of India accounted for 5.56% of the total amount collected by PSBs in India for non-maintenance of minimum balance in SB a/c in 2018-19 (till sep 2018).
Amount of Rs. 37.99, 36.42, 28.32, 24.59 and 21.86 crore had been collected by Oriental Bank of Commerce, Canara Bank, Andhra Bank, IDBI Bank Ltd. and Syndicate Bank respectively for non-maintenance of minimum balance in SB account during 2018-19 (upto sep 2018).
Note: Source: RAJYA SABHA SESSION – 247 UNSTARRED QUESTION No 2150; # # : The monthly average balance requirement was charged by SBI till 2012. Subsequently, SBI stopped charging for the same till 31.3.2016 while other banks, including Private Banks were charging as per their Board-approved policy. It was reintroduced by SBI with effect from 1.4.2017. The minimum balance requirements were subsequently reduced with effect from 1.10.2017. It is also clarified that there is no minimum balance requirement for Basic Savings Bank Deposit Accounts and Jan-Dhan accounts.; Source: Banks; Amount in Rs.Crore.
Dataset URL: https://data.gov.in/resources/bank-wise-amount-charges-collected-public-sector-banks-non-maintenance-minimum-balance
Resource Title: Bank-wise Amount of charges collected by Public Sector Banks for non-Maintenance of Minimum Balance in Saving Bank accounts from 2015-16 to 2018-19 (From : Ministry of Finance)