Current Affairs - Banking - Discussion

SBI has lowered the average minimum balance requirement under its savings account for metro customers to Rs 3,000 from Rs 5,000 earlier following protests. Minimum balance for urban, semi-urban and rural centres continues to be at Rs 3,000, Rs 2,000 and Rs 1,000, respectively. For non-maintenance of Minimum Average Balance (MAB), the charges have been revised downward, ranging from 20% to 50% across all population groups and categories. The new charges at semi-urban and rural centres range from Rs 20 to Rs 40, and at urban and metro centres from Rs 30 to Rs 50.