Its time we review & remove such nonsensical rules!
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Knowing the fact that our country is still developing and theres a huge gap in income with people living in urban & rural areas, this sure is going to put a lot of pressure on majority of population.
For that fact, people living in (specially the middle class) urban cities are struggling to makes ends meet everyday and with that how can the Banks expect people like us to maintain a minimum balance of 5K. Why cant we make this realistic?
Rightly stated by Beena, theres a huge contrast. First we urged the whole population to open account for like 0 Balance and now we are asking them to keep a balance of 5k? Like really? Can we as country stop juicing money out of the common people and figure out a better way? People friendly ways? As an extra topping of burden we have got this whole lot of card deductions, this charge, that charge.
I just wonder if State Bank even wants customers to be associated with them any longer now!
I am a middles class female earning my salary travelling 80 Kms to-fro living on rent with full responsibility of my family and this definitely affects me. And I know if I can get affected living in an urban city what should be the plight of the poor ones!
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