- Private sector banks collected ₹4,948.71 crore, accounting for nearly 70% of the total, while public sector banks collected ₹2,137.92 crore.
- Among private banks, HDFC Bank collected the highest amount at ₹1,798.14 crore, followed by Axis Bank with ₹1,081.33 crore.
- Among public sector banks, SBI collected the highest amount at ₹477.27 crore, followed by Bank of Baroda and Indian Bank. SBI’s charges related to current accounts, as it had removed minimum-balance penalties on savings accounts in March 2020.
- Of India’s 12 public sector banks, 10 have discontinued minimum-balance penalties on savings accounts, while the remaining two have rationalised their charges under board-approved policies.
- No such penalty is imposed on Basic Savings Bank Deposit Accounts, including accounts opened under the Pradhan Mantri Jan Dhan Yojana.
Question:
Q1.How much did banks collect as minimum average balance penalties during FY 2025–26?
a) ₹4,948.71 crore
b) ₹5,086.63 crore
c) ₹7,086.63 crore
d) ₹9,224.55 crore
Answer: c) Banks collected ₹7,086.63 crore as minimum average balance penalties during FY 2025–26. Private sector banks contributed nearly 70% of the total, while Basic Savings Bank Deposit Accounts, including PM Jan Dhan Yojana accounts, were exempt from such penalties.
