Must read: What State Bank of India’s new transaction rules tell
State Bank of India, country’s largest public sector lender, has brought in a number of new rules for its customers. The bank has become world’s 45th largest lender after merger with five sister banks and Bharatiya Mahila Bank.
New norms pertain to minimum balance in savings bank accounts, amended service charges, new service tax rates, renewed locker fees, fees for availing cheque books and more, according to Zee News.
Most prominent among these changed rules are related to customers who hold savings accounts at metro, urban, semi-urban and rural branches. The bank has made mandatory maintenance of minimum balance in these accounts from April 1.