Banks collect â¹5,000 cr as minimum balance penalty in FY18
Three private lenders and 21 public sector banks (PSBs) collected â¹5,000 crore from depositors in the financial year 2017-18 as penalties for not maintaining required minimum balance in accounts. Among PSBs, SBI emerged as the highest collector with â¹2,433 crore in penalties, almost half of the total collection. HDFC Bank was the highest collector among private banks with â¹590 crore.