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SBI Closes 41 Lakh Accounts for Non-Maintenance of Minimum Balance

March 15, 2018

SBI Closes 41 Lakh Accounts for Non-Maintenance of Minimum Balance

India’s largest public sector lender State Bank of India said it has closed nearly 41.16 lakh savings accounts in the present financial year because they didn’t comply with the norms for minimum balance maintenance.
The shocking statistic was revealed as a result of the RTI filed by Neemuch-based Chandra Shekhar Gaud.
The accounts were closed by the lender between April 1, 2017, and January 31, 2018.

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