Tuesday, April 1, 2014

Customers may be spared from keeping minimum balance in savings accounts Read more at: http://economictimes.indiatimes.com/articleshow/33064811.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Bank customers may no longer have to maintain a minimum balance in their savings account as the Reserve Bank of India has directed banks to do away with the practice of levying penalty on account holders who don't do so. While this spells good news for account holders, some bankers said this would increase their costs and they might start charging for some of the services they were offering free. 

"I think what they are saying is, if you don't charge on maintaining minimum balance then  .. 


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