Banks Collected Rs 26,170 Crore in Minimum Balance Charges over FY23-FY26: Govt
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The Finance Ministry told the Rajya Sabha that ADFC Bank, Axis Bank and Bank of Baroda collected the highest penalties from their customers.
Banks collected Rs 26,170 crore in minimum balance charges over FY23-FY26: Govt
New Delhi, July 29 (SocialNews.XYZ) Banks collected more than Rs 26,170 crore from customers as penalties for failing to maintain the minimum average balance (MAB) in their accounts during the four financial years from FY23 to FY26, as per the data shared by the government in the Parliament. The data -- provided by Minister of State for Finance Pankaj Chaudhary in a written reply in the Rajya Sabha -- showed that private sector banks accounted f…
Last financial year, banks collected Rs 7,000 crore as fines for not maintaining minimum balance. Private banks were the ones who collected the most.
In the last financial year (2025-26), public and private sector banks collected about Rs 7,087 crore from customers who did not maintain minimum cash balances in current/savings accounts. Of this, private banks collected Rs 4,948.71 crore and government banks Rs 2,137.92 crore, Union Minister of State for Finance Pankaj Chaudhary said in a written reply to a question in the Rajya Sabha on Tuesday.
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