Rs.1,996 Crore collected as minimum balance penalty by public sector banks in FY 19
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The Minister of State for Finance, Anurag Singh Thakur told the Parliament on November 25 that Public sector banks collected ₹1,996.46 crore penalty from customers who did not maintain minimum monthly balance in their savings account in 2018-19. The 18 public sector banks collected ₹3,368.42 crores by levying the minimum balance penalty in 2017-18 which was much higher than ₹790.22 crore collected in 2016-17.