State Bank Of India

State Bank of India (SBI) has collected around Rs 346 crore during the period from 2017-18 up to October 2021 in the form of additional services to customers holding basic savings, including Jan Dhan accounts, which were beyond their free services.

SBI has charged Rs 224.8 crore during the period from 2019-20 to 2020-21 for providing additional services demanded by the customers beyond the minimum allowed free services at BC/CSP. It levied charges worth Rs 152.42 crore in 2019-20 and Rs 72.38 crore in 2020-21 across 36 states and union territories, and refunded Rs 90.19 crore during January 1, 2020 to September 14, 2020. 

As per RBI guidelines, the basic savings bank deposit account (BSBDA) including accounts opened under Pradhan Mantri Jan Dhan Yojana (PMJDY) provide basic minimum facilities free of charge and without the need to maintain a minimum balance. However, the RBI has advised the bank that they are free to evolve requirements including pricing structure for additional value-added services beyond the stipulated basic minimum services on reasonable and transparent basis in a non-discriminatory manner. The customer can avail to such services on an optional basis.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.