More than Rs 8,000 crore collected for missing minimum balance – Over Rs 8,000 crore was collected as charges by 12 public sector banks (PSBs) for non‑maintenance of minimum balance in the last three financial years, according to Parliament data [1].
Punjab National Bank contributed Rs 1,500 crore, 20% share – With over Rs 1,500 crore collected, Punjab National Bank accounted for 20% of the total minimum‑balance charges, the highest among the 12 PSBs [1].
Bank of Baroda and Indian Bank together hold 30% of charges – Bank of Baroda contributed 16% and Indian Bank 14% of the total minimum‑balance charges, together representing roughly a third of the amount collected [1].
Banks claim charges follow RBI‑approved, transparent policies – The banks responded that minimum‑balance fees are waived or rationalised under board‑approved policies and Reserve Bank of India (RBI) guidelines that require reasonableness, transparency, and alignment with service costs [1].
Rs 3,388 crore levied for SMS facilities, SBI exempt since 2020 – Excluding State Bank of India, the 11 PSBs charged close to Rs 3,388 crore for SMS services over three years, while SBI has waived these fees since 2020 [1].
Union Bank of India led SMS charges with Rs 1,100 crore, 35% share – Union Bank of India collected over Rs 1,100 crore, representing 35% of SMS‑related fees among the 11 PSBs, followed by Canara Bank (15%) and Punjab National Bank (10%) [1].