As per the list of revised charges of SBI, failure to maintain monthly average balance in accounts will attract penalty of up to Rs100 plus service tax. In metropolitan areas, there will be a charge of Rs100 plus service tax, if the balance falls below 75% of the MAB of Rs5,000. A senior SBI official said the bank had suspended levying charges on breach of minimum balance requirements in 2012 to acquire new customers. The Reserve Bank has permitted banks to levy charges for breaching minimum balance limit. However, SBI will not levy any charge on withdrawals from its own ATMs if the balance exceeds Rs25,000.

Source: Mint March 05, 2017 10:36 UTC