RBI made rules regarding minimum balance in bank account, issued necessary guidelines
minimum balance new rule – In today’s time, everyone opens a bank account to give financial loans. But many times, due to not maintaining minimum balance in the bank account and not doing any transaction in the account for a long time, the bank deducts the money. But now customers will not have to face such problems. Recently, RBI i.e. Reserve Bank of India has made new rules regarding minimum balance in bank account. Let us know in the news below-
HR Breaking News (Bureau). If your bank also keeps deducting money from your account without any reason, then this news is useful. Often we have heard and seen ourselves that banks keep deducting money from our account without any reason and then the account goes into minus. Then the customer is left with no option other than closing the account.
But even when you go for account closing, the bank officials do not close your account and say that after clearing the minus amount, your account can be closed. If you are also facing the same problem then let us tell you what the RBI rules say about this.
Under RBI rules, the bank cannot deduct money from the customer’s account even if there is no minimum balance from the account. At the same time, the bank cannot make the customer’s account negative by making deduction in the name of penalty. Still, if any bank does this then the customer can go to RBI and complain about the bank.
Maintain minimum balance Nowadays everyone gives preference to savings bank account. While opening a savings account, banks impose a condition on the customers that after opening the bank account, they have to maintain a minimum balance in the account. This minimum balance limit is also decided by the banks themselves. If the customer does not have minimum balance in his account, then penalty will be deducted from his account. But, let us tell you, doing so is subject to the rules of RBI.
If the bank makes your account negative by deducting money, then you can complain about it by visiting the RBI website. Based on your complaint, RBI will take action against the bank.
RBI said that banks cannot impose penalty for not maintaining minimum balance on those accounts which have become inactive. This includes those accounts in which no transaction has been done for more than 2 years. The new rules of RBI will come into effect from April 1.
RBI has recently made a big change regarding minimum balance in bank accounts. The Reserve Bank said that if you are not using the bank account then you will not have to pay minimum balance charge.
Reserve Bank of India (RBI) has issued a circular for inoperative accounts. Through which instructions have been given to the banks. RBI said in its circular that these instructions are an attempt to reduce unclaimed deposits in the banking system and return such amounts to their rightful claimants.
The Reserve Bank of India also said that banks cannot classify accounts opened to receive scholarships or direct benefit transfers as inoperative. Even if these accounts have not been used for more than two years.