Current Affairs - Banking - Discussion

SBI stated that the old chequebooks and IFSC (India Financial System Codes) of six subsidiary banks namely State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore and State Bank of Hyderabad and Bharatiya Mahila Bank, will not be valid after September 30. SBI currently charges a penalty of up to Rs. 100 (plus GST of 18 percent) per month for not maintaining the minimum balance in savings bank accounts.