Current Affairs · Banking and Finance
Regarding Canara Bank's decision effective June 2025 to abolish charges for non-maintenance of minimum balance in Savings Bank (SB) accounts, which of the following statements are correct? 1. Canara Bank has removed the Average Monthly Balance (AMB) requirement penalty for all types of savings bank accounts. 2. The new rule will apply only to savings bank accounts of regular customers and will completely exclude special categories like NRI or salary accounts. 3. With this move, Canara Bank became a leading public sector bank to implement such a comprehensive blanket waiver of AMB penalties across all SB account types in 2025.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both 1 and 2
- 2Only 3
- 3Both 1 and 3✓
- 4Both 2 and 3
Correct answer
Both 1 and 3
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