RBI Rules: This rule of RBI is very useful, now you will not have to pay minimum balance charge.
Web Desk. The Reserve Financial institution of India has issued a round and issued an order which may be very helpful for everybody. In the event you additionally find out about this then you may be glad. Sure, on this round the financial institution has advised a couple of new rule. In keeping with this rule, banks can now not impose any additional penalty on minimal steadiness upkeep.
In keeping with media experiences, this rule contains all these financial institution accounts which haven’t been lively for the final 2 years. This rule will probably be relevant from the subsequent monetary yr 2024-25. Which means that this rule will come into impact from April this yr.
Banks can not cost any payment for reactivating any account. If an account has change into inactive, banks can not impose penalty for not sustaining minimal steadiness. Banks will even need to proceed paying curiosity on the financial savings account, even whether it is inactive.
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