SBI Chief Says New Bank Charges Will Help Jan Dhan Costs

State Bank of India ’s proposal to charge customers for cash transactions and penalize them when they don’t maintain a minimum balance will subsidise financial inclusion accounts including those under Prime Minister’s Jan Dhan Yojna, the bank’s chairman Arundhati Bhattacharya said on Wednesday. 

“SBI’s requirement for minimum balance is lowest among all banks. SBI was the only bank that didn’t have this as we have removed it in 2012. However, now there is a burden of a lot of things. 

We have 11 crore financial inclusion accounts -- Basic savings and Jan Dhan accounts – and have to manage them as well,” Bhattacharya said on the sidelines of a women entrepreneur convention.


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