PSBs may remove min balance fines

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Following finance ministry concerns over declining low-cost deposits, several public sector banks, including Canara Bank and Punjab National Bank, are scrapping minimum balance penalties on savings accounts. This policy shift, influenced by Jan Dhan account data and SBI's earlier move, aims to boost CASA deposits. Banks will now recover costs through alternative fees like debit card charges.

from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/140R9PZ

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