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Mab News

DoFS To Meet Revenue Dept For GST On Free Banking Services To Customers

In relation to the confusion that remains on the levy of GST on some of the services offered for free by banks to its customers, the department of Financial Services (DFS) is considering to approach the revenue department to clear the ...

Soon Banks May Charge For Every Service Request Made Including Passbook Updation

Some of the banks are mulling over the proposal to levy charges for each and every banking transaction or service request made with them. Until now, banks charge for non-maintenance of stipulated minimum account balance in the savings account, mobile banking ...

Closure Of Saving Bank Accounts Over 1 Yr Old To Attract No Fee: SBI

After reducing the minimum average balance requirement together with penalty for not maintaning it by approximately 20-50% across customers in the metro, urban and rural branches, the state-run lender has with effect from October 1st also waived closure charges levied on ...

What Is A BSBDA Savings Account?

For those of you who find it difficult to maintain a minimum stipulated sum in the savings bank, you have the option to switch to a Basic Savings and deposits account. SBI is enabling this conversion at no cost and has ...

SBI Reduces Minimum MAB And Non- Maintenance Charges On Savings Account

Earlier the state-run bank has made it clear that non-maintenance charges that apply due to non-maintenance of minimum amount stipulated by the bank do not apply to basic savings and deposit account and PMJDY account. Now the bank has slashed down ...

SBI MAB Requirements Not For Basic Savings and PMJDY Accounts

The largest public-run lender on Saturday clarified that its monthly average balance or MAB requirements are not for basic savings bank deposit account BSBD and Pradhan Mantri Jan Dhan Yojana or PMJDY. Not adhering to the minimum balance requirements ...

How To Avoid Minimum Balance Charges On SBI Savings Bank Account?

There is stipulated some minimum balance amount that bank customers are required to maintain on a month on month or quarterly basis and if they fail to adhere to it then penalty amount is charged for it. Saving bank account of ...