72 Crore Bank Accounts Get Relief: No Minimum Balance Penalty

• Finance Minister Nirmala Sitharaman announced 72 crore Basic Savings Bank Deposit Accounts (BSBDAs) will incur no minimum balance penalty.
• BSBDAs, including Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, are zero-balance accounts aimed at financial inclusion.
• Regular savings/current accounts still require minimum balances; banks collected ₹8,092.83 crore in penalties from 2022-23 to 2024-25.
• State Bank of India (SBI) abolished minimum balance penalties in March 2020; 9 other public sector banks followed in 2025.
• Government aims to foster customer-centric banking and strengthen financial inclusion, especially for small savers.