Finance Minister's Good News Brings Major Relief for Savings Account Holders
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Big Relief for 72 Crore Bank Accounts: No Minimum Balance Required!
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News18•12-03-2026, 18:05
Big Relief for 72 Crore Bank Accounts: No Minimum Balance Required!
•Finance Minister Nirmala Sitharaman announced 72 crore Basic Savings Bank Deposit Accounts (BSBDA), including Jan Dhan accounts, require no minimum balance.
•These zero-balance accounts offer basic banking services like deposits, withdrawals, and ATM facilities without additional charges.
•The initiative aims to promote financial inclusion for the poor, small depositors, and those excluded from banking services.
•Public sector banks collected Rs 8,092.83 crore in minimum balance charges from regular accounts between 2022-23 and 2024-25.
•State Bank of India (SBI) abolished minimum balance penalties from March 2020; nine other public sector banks followed suit until 2025, two reduced charges.
