Lok Sabha Question No. 2041 (UNSTARRED), answered on 2017-12-29
Subject: Minimum Account Balance
Ministry: FINANCE
Asked by: ABHISHEK SINGH, KIRRON KHER, ARJUNLAL MEENA

## GOVERNMENT OF INDIA

## MINISTRY Ol: FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION No. 2041

TO BE ANSWERED ON 29 DECEMBER 2017 (FRIDAY)PAUSHA 08. 1939 (SAKA) Minimum Account Balance

## 2041. SHRI ABHISHEK SINGH: SHRIMATI KIRRON KHER: SHRI ARJUN LAL MEENA:

## Will the Minister of FINANCE be pleased t0 state:

- the details of the norms and guidelines regarding penalty charges for non-maintenance of minimum balance in bank accounts:
- b) the amouni of" penalty collected by penalising for  not maintaining   minimum balance in their account during the last one vear: people
- whether the Government is Account  Balance (MAB) penalties demotivates lower and middle elass people for payment through bank accounts and if the action taken thereon; SO.
- whether the banks are levied various irrational extra issuance of cheque books etc. and if so, the action taken the Government thereto: by
- whether the Government plans to exempt economically backward population to maintain MAB and if so. the details thereof: and
- the steps taken being taken by the Government t0 check the effective implementation of MAB policy by all the banks?

## Answer The Minister of State in the Ministry of Finance

## (SHRI SHIV PRATAP SHUKLA)

- and (d) As per the instruction issued by Reserve Bank of India (RBI) to banks. the policy penal charges to be levied by banks for non-maintenance of minimum balance in savings accouni approval of its Board: While service charges for various types of services like charges line with the average cost of providing these services. fixing
- not maintaining minimum balance during 2016-17 and 2017-18 and the same is annexed.
- (c) (e) and (f) As per RBL guideline issued in 2012 Basic Saving Bank Deposit (BSBD) accounts. providing normal basic banking services without requirement of any minimum balance. can be opened by any individual in the Scheduled Commercial Banks. AlI accounts opened under PradhanMantri Jan Dhan Yojana are BSBD accounts.

## Annexure to Lok Sabha UnStarred Question no.2041 for 29.12.2017 on Minimum Account Balance

| No_   | Public Sector Banks       | Amount recovered from customer on account of non maintenance of minimum balance minimum average balance (amount in Rs. Crore)   | Amount recovered from customer on account of non maintenance of minimum balance minimum average balance (amount in Rs. Crore)   |
|-------|---------------------------|---------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|
| No_   | Public Sector Banks       | 2016-17                                                                                                                         | 2017-18 (up to November 2017)                                                                                                   |
|       | Allahabad Bank            | 24.34                                                                                                                           | 7.69 (up to 25.12.2017)                                                                                                         |
|       | Andhra Bank               | 48.02                                                                                                                           | 24.28 (up to 30.9.2017)                                                                                                         |
|       | Bank of Baroda            | 13.18                                                                                                                           | 7.34                                                                                                                            |
|       | Bank of India             | 16.40                                                                                                                           | 7.98                                                                                                                            |
| 5     | Bank of Maharastra        | 50.54                                                                                                                           | 12.39                                                                                                                           |
|       | Canara Bank               | 106.58                                                                                                                          | 62.16 (up to 21.12.2017)                                                                                                        |
|       | Central Bank of India     | 56.63                                                                                                                           | 68.67 (up to 30.9.2017)                                                                                                         |
|       | Corporation Bank          | 38.91                                                                                                                           | 15.37                                                                                                                           |
|       | Dena Bank                 | 14.15                                                                                                                           | 12.73 to 11.12.2017) (up                                                                                                        |
| 10    | IDBI                      | 88.23                                                                                                                           | 52.15                                                                                                                           |
|       | Indian Bank               | 41.01                                                                                                                           | 50.98                                                                                                                           |
| 12    | Indian Overseas Bank      | 87.48                                                                                                                           | 34.19                                                                                                                           |
| 13    | Oriental Bank of Commerce | 45.48                                                                                                                           | 17.61 to 12.12.2017) (up                                                                                                        |
| 14    | Punjab & Sind Bank        | NIL                                                                                                                             | NIL                                                                                                                             |
| 15    | Punjab National Bank      | 130.64                                                                                                                          | 97.34                                                                                                                           |
| 16    | State Bank of India       | NIL                                                                                                                             | 1771.67                                                                                                                         |
| 17    | Syndicate Bank            | 47,97                                                                                                                           | 38.16                                                                                                                           |
| 18    | Uco Bank*                 | 7.38                                                                                                                            | 3.01 (up to 30.9.2017)                                                                                                          |
| 19    | Union bank of India       | 41.13                                                                                                                           | 32.79                                                                                                                           |
| 20    | United Bank of India      | 5.67                                                                                                                            | 4.30                                                                                                                            |
|       | Vijaya Bank               |                                                                                                                                 | 0.1598                                                                                                                          |

Source; Banks

Including service tax/GST