No charges for not maintaining Minimum Balance in Savings account- April to June 2021
As part of Corona virus relief measures, Government of India has announced that no charges will be debited by the banks if the minimum balance is not maintained for the next 3 months.
As of now: If the minimum balance is not maintained in the Savings accounts,Banks can charge some penalty on the account based on where the branches are located
Announcement: Due to the announcement by Govt of India, there is no need to maintain Minimum Balance on your Savings account for the next 3 months.
Suppose if you are having 10,000 and your Salary has not been credited, you can withdraw the entire 10,000 and no charges will be levied by your bank