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Banks collect Rs. 5k cr from customers in FY18 for breaching min balance

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(G.N.S) Dt. 05 New Delhi Indian banks have collected nearly Rs 5,000 crore from their depositors in the last financial year (FY2017-18) as penalty for not maintaining minimum required balance in their savings account, a daily newspaper reported. The quantum of these deposits grew this year despite banks opening 30.8 crore basic savings accounts, the news report further said. A basic savings accounts holder is not required to maintain any

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