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Penalizing for Poverty – PSU Banks Should Stop Extorting Money Over Minimum Account Balance (MAB) Requirement

January 5, 2018 - 5:18 pm in Economics

It was highly shocking to learn that State Bank of India (SBI) had levied Rs 1,771 crores between April and November 2017 as charges from customers who did not maintain their minimum monthly average balance (MAB) in their accounts.[1] To put the numbers in…