Lok Sabha Question No. 1317 (UNSTARRED), answered on 2018-02-09
Subject: Penalties by SBI
Ministry: FINANCE
Asked by: MALLIKARJUN  KHARGE

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UN-STARRED QUESTION No. 1317

TO BE ANSWERED ON 9 FEBRUARY 2018 (FRIDAYJMAGHA 20 1939 (SAKA)

## Penalties by SBI

## 1317: SHRI MALLIKARJUN KHARGE:

Will the Minister of FINANCE be pleased to state:

- whether the State Bank of India (SBI) has levied various penalties and charges On its account holders;
- if so, the details thereof;
- the total earning of SBI by these penalties till date;
- whether these charges cause hardship to account holders, if so, the details thereof;
- whether the Government is going to take necessary steps to wean Off unnecessary penalties; and
- (f) if so. the details thereof and if not, the reasons therefor?

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

## (SHRI SHIV PRATAP SHUKLA)

decide the charges for various   services rendered by them as per their Board approved policy While fixing the same, banks are to ensure that the charges are reasonable and in line with the average cost of providing these services\_ The detail of various charges applicable to retail Saving Bank account-holders as informed by SBI are at Annexure

(c) As informed by SBL, more than 13 crore Basic Savings Bank Deposit (BSBD) account-holders including Jan Dhan  account-holders are provided basic banking services free of cost: The savings bank account-holders of SBI are allowed t0 (i) deposit in own account through cash deposit machines card or receive credit to the account through transfer or clearing or other digital modes unlimited number of times; centres (5 at SBI ATMs and 3 at other Banks' ATMs) and 10 times in a month in non-metro centres (5 at SBI ATMs and 5 at ther Banks' ATMs), (iv) debit through internet mobile banking transactions at least 20 times in a month; withdraw cash from branch at least 2 times in a month free of SBI has informed that for an individual savings bank account-holder; this is considered to be more than adequate. regular using charge.

(d) to (0) As informed by SBI, an amount of Rs.2,127 crore has been earned 0n account of various charges by the bank till 31.12.2017, in the current financial year:

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. requirements and the charges were subsequently reduced by SBI with effect from 1.10.2017.

## Annexure in reply to part (a) & (b) of the Lok Sabha Un-starred question no. 1317 for 9.2.2018 regarding 'Penalties by SBT

## Service charges of State Bank of India

| SL No.   | Services                                                                 | Limit up t0 which the service is available free                                                                                                                                                                                                                                                                                                  | Applicable charge beyond free transactions                                          |
|----------|--------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------|
|          | Deposit:                                                                 |                                                                                                                                                                                                                                                                                                                                                  |                                                                                     |
|          | Cash deposit at Branch (home non-home branch)                            | 3 per month                                                                                                                                                                                                                                                                                                                                      | Rs. 50 + applicable tax                                                             |
| 1,2      | Deposit in Own account through Cash Deposit machines using card          | Unlimited                                                                                                                                                                                                                                                                                                                                        | No charge                                                                           |
| 13       | Credits to the account through transfer / clearing / other digital modes | Unlimited                                                                                                                                                                                                                                                                                                                                        | No charge                                                                           |
| 2.       | Debit Withdrawal                                                         |                                                                                                                                                                                                                                                                                                                                                  |                                                                                     |
| 2.1      | For Basic Savings Bank Account Holders                                   | 4 transactions in a month including ATM withdrawals                                                                                                                                                                                                                                                                                              | No further customer debit allowed beyond 4 in a month.                              |
| 2.2      | At branch                                                                | 2 withdrawals month if previous month '$ average balance (MAB) is less than Rs: 25,000. 10 withdrawals per month if previous MAB is less than Rs. 50,000 but greater than Rs. 25,000. 15 withdrawals per month if previous MAB is less than Rs. 1,00,000 but greater than Rs. 50,000. Unlimited if previous MAB is greater than Rs. 4,00,000 per | Rs. 50 + applicable tax                                                             |
| 2.3      | At ATM (if previous month '$ average balance is less than Rs. 25,000)    | In 6 metro cities: 5 withdrawals in SBI ATMs and 3 withdrawal in other banks' ATMs. Other centres: 5 withdrawals in SBI ATMs and 5 withdrawals in other banks" ATMs.                                                                                                                                                                             | Rs. 10 + applicable tax (at SBI ATMs) Rs. 20 + applicable tax (at other banks ATMs) |
| 2.4      | Internet mobile banking                                                  | 20 debits per month if previous month '$ average balance is less than Rs. 1,000. 40 debits per month if previous month 's average balance is less than Rs. 25,000 but more than Rs. 1,000. Unlimited if previous month s average balance is greater than Rs. 25.000                                                                              | Rs. 5 + applicable tax                                                              |

Source: SBI