Current Affairs · Banking and Finance
In July 2025, data showed public sector banks (PSBs) collected large sums as penalties for low balances in savings accounts between FY21 and FY25. Which of the following statements about this data is/are correct? 1. Eleven PSBs collected around ₹9,000 crore as penalties from customers for maintaining insufficient balance during FY21–FY25. 2. The State Bank of India continued to levy this charge consistently after FY21. 3. Banks like Canara Bank, Punjab National Bank, and Bank of Baroda discontinued such charges by the second quarter of FY26.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both 1 and 3✓
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- 4Only 2
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Both 1 and 3
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