Cheque Books, IFSC of 6 SBI Subsidiary Banks to be Invalid from Sept 30

Posted on:21 Sep 2017 09:59:49
Cheque Books, IFSC of 6 SBI Subsidiary Banks to be Invalid from Sept 30
21 September 2017 Current Affairs: SBI stated that the old cheque books and IFSC (India Financial System Codes) of six subsidiary banks namely State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Raipur, State Bank of Travancore and State Bank of Hyderabad and Bharatiya Mahila Bank, will not be valid after September 30.

SBI currently charges a penalty of up to Rs. 100 (plus GST of 18 per cent) per month for not maintaining the minimum balance in savings bank accounts.

The corporate salary accounts, small and basic savings bank deposit accounts and accounts opened under the Pradhan Mantri Jan-Dhan Yojna are exempted from maintaining the monthly average balance.

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