PNB has recovered Rs 170 crore as charges from customers who do not maintain minimum balance in bank accounts.
New Delhi. Public sector Punjab National Bank (PNB) has recovered Rs 170 crore as fee from customers who do not maintain minimum balance in bank accounts during the last financial year 2020-21. The bank has given this information on the information sought under the Right to Information (RTI). In the financial year 2019-20, Punjab National Bank had recovered an amount of Rs 286.24 crore through this fee. The bank levies such charges on a quarterly basis in a financial year.
In the first quarter of the last financial year, the bank recovered Rs 35.46 crore as Quarterly Average Balance (Qab) charges. This fee was levied on both savings and current accounts. In the second quarter of the last financial year, the bank did not levy any such charges. In the third and fourth quarters, the bank recovered Rs 48.11 crore and Rs 86.11 crore respectively as such charges.
Revealed in RTI,
Madhya Pradesh social worker Chandrashekhar Gaur had sought information about this from the bank under RTI. Apart from this, the bank collected Rs 74.28 crore in the form of ATM charges in the last financial year, while in 2019-20, the bank had raised Rs 114.08 crore from this fee. In the first quarter of the last financial year, following the instructions of the government, PNB had waived the ATM fee. In response to another question, the bank said that as of June 30, 2021, 4,27,59,597 accounts were inactive. At the same time 13,37,48,857 accounts were active.
Chequebooks will be invalid from October 1
, after the merger of many banks, many rules related to them have changed. Be it the case of Cheque book or IFSC code. Similar is the case with Oriental Bank of Commerce (OBC) and United Bank of India (UBI). Both these banks have merged with Punjab National Bank (PNB).
Mainly the customers of these two banks will have to issue a new Cheque book as the old one will no longer be valid. Customers will not be able to use old Chequebooks after October 1. It will have to be replaced with PNB’s Chequebook. PNB has tweeted, ‘The recognition of OBC and UBI Chequebooks will end from October 1. Please replace the same with PNB’s Cheque book through new IFSC and MICR. The bank has also informed about this change by sending several SMS to the customers.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
