Reasonable min balance requirements in public sector banks
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Recently SBI has introduced new rules which limits the number of cash deposits, ATM transactions and drastically increased the minimum balance requirements from Rs1000 to 5000 . Failing which,there will be huge fines imposed.
Since it's the largest PSB ,other banks might follow suit in the near future. On the one hand govt wants a cashless economy but on the other side , numerous rules and regulations are increasingly coming into picture.
Everyone knows Public sector banks are for MASSES ,not for CLASSES . I want to stop this exploitation of common man .
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