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Levy for not keeping minimum balance in banks should be reasonable

Levy for not keeping minimum balance in banks should be reasonable

Tuesday, March 28, 2017, 6:04 PM

The government today said banks can impose penal charges for not keeping a minimum balance in accounts but the levy should be "reasonable". As per the RBI guidelines, banks should inform at least one month in advance existing account holders about any change in the prescribed minimum balance and charges that may be levied.
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