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Public sector banks earn over Rs 3,300cr via customer charges in last 4 yrs, says Minister

Basic banking services including Pradhan Mantri Jan Dhan Yojana are provided without any charges, Shiv Pratap Shukla said.


PTI 31 Jul 2018, 03:26 PM India

Public sector banks earned over Rs 3,300 crore by levying services and other charges on customers in the last four years, Minister of State for Finance Shiv Pratap Shukla said today.

As per the RBI directive, banks are permitted to fix service charges on various services rendered by them, as per their board approved the policy while ensuring that the charges are reasonable and not out of line with average cost of providing these services, the minister said in a written reply to the Rajya Sabha.

Basic banking services including Pradhan Mantri Jan Dhan Yojana are provided without any charges, he said.

"Service/miscellaneous charges have thus always been levied by banks as per the extant guideline of RBI. As regards the service/miscellaneous charges made applicable during the last four years, Rs 3,324 crore has been realized, as informed by public sector banks," Shukla said.

Besides, there were 53.3 crore basic savings bank deposit accounts, including 30.84 crore Jan Dhan accounts by end-December 2017 for which no charges were levied for non-maintenance of minimum balance, he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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