Rs 5,000 cr snatched by banks in a year for not maintaining minimum balance

Agencies
August 6, 2018

New Delhi, Aug 6: Twenty-one public sector banks and three major private sector lenders collected ₹ 5,000 crore from customers as minimum balance penalty in financial year 2017-18, according to banking data. 

State Bank of India, which suffered a staggering net loss of ₹ 6,547 crore during 2017-18, led the pack in penalising its customers for not maintaining minimum balance. It accounted for nearly half the amount collected as minimum balance penalty.

After SBI, the largest amount of minimum balance penalty during 2017-18 was collected by HDFC Bank Ltd. It charged its customers ₹ 590.84 crore, which is lower than ₹ 619.39 crore in 2016-17, the data revealed.

Axis Bank collected ₹ 530.12 crore in the last fiscal while ICICI Bank charged ₹ 317.6 crore.

SBI was charging the penalty on failure to maintain monthly average balance requirement till 2012 and re-introduced it on 1 April 2017 and reduced the charges with effect from 1 October 2017.

According to norms set by the Reserve Bank of India (RBI), banks are permitted to levy service/miscellaneous charges. Customers opening accounts under Basic Savings Bank Deposit (BSBD) scheme as well as Pradhan Mantri Jan Dhan Yojna are not required to maintain any minimum balance.
 

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News Network
January 1,2020

New Delhi, Jan 1: Newly-appointed Chief of the Defence Staff General Bipin Rawat on Wednesday said the armed forces stay away from politics and work as per the directives of the government of the day, remarks that come amid allegations that the forces were being politicised.

Gen Rawat also said that his focus as CDS will be to integrate the efforts of the three services and to work as a team.

"We keep ourselves away from politics. We act according to the directives of the government of the day," he said.

Gen Rawat said his focus will be to ensure best and optimal use of resources allocated to the three services.

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Agencies
February 25,2020

New Delhi, Feb 25: Union Home Minister Amit Shah on Monday told a meeting of Delhi Lieutenant Governor Anil Baijal, Chief Minister Arvind Kejriwal and party leaders that "professional assessment" is that the violence in north-east Delhi has been "spontaneous".

He also said adequate forces have been already deployed in affected areas even as he urged political parties to avoid provocative speeches and statements which could flare up the situation and desist from rumour-mongering. He also instructed Delhi Police Commissioner Amulya Patnaik to re-activate local peace committees. 

"Shah noted that the professional assessment is that the violence in the capital has been spontaneous. He expressed confidence in Delhi Police and said that the force has shown maximum restraint to get the situation under control," a statement issued by the Ministry of Home Affairs (MHA) said.

However, on Monday, government sources had claimed that violence in the national capital "appeared to be orchestrated" to coincide with the high-profile visit. A PTI report from Hyderabad on Tuesday also quoted Minister of State for Home G Kishan Reddy as saying that the violence in Delhi has been perpetrated intentionally and the Narendra Modi government would not tolerate such incidents. 

While Shah said adequate forces have been deployed, there were also reports that the Delhi Police Commissioner told MHA top brass that it did not have adequate forces to control the violence that erupted in north-east Delhi. However, Delhi Police later tweeted that the Commissioner has denied that "no such information was given to MHA" and such reports were "totally baseless". 

Urging parties to avoid provocative speeches and statements which could flare up the situation, the statement said, Shah expressed confidence in Delhi Police and said that the force has shown maximum restraint to get the situation under control.

Appealing to all to maintain restraint and desist from rumour-mongering while instructing the Delhi Police Commissioner to re-activate local peace committees, Shah said Delhi's borders with Uttar Pradesh and Haryana have been under surveillance for the last three days. 

Shah also urged parties to ask their local leaders to hold meetings in sensitive areas and instructed senior police officers to visit vulnerable police stations at the earliest

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News Network
May 26,2020

New Delhi. May 26: 6,535 more coronavirus cases have been reported in India in the last 24 hours, taking the total number of COVID-19 cases in the country to 1,45,380, informed Union Ministry of Health and Family Welfare on Tuesday.

Out of the total, at present, there are 80,722 active cases in the country. So far, 60,490 people have been cured/discharged and 4167 have died due to the lethal infection.

According to the data compiled by the Centre, Maharashtra has so far recorded the maximum number of cases of COVID-19 across the country with 52,667 people.

The tally of cases in Tamil Nadu has risen to 17,082. While Gujarat has recorded 14,460 cases of the infection so far.

There are 14,073 cases of coronavirus in the national capital.

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