New Delhi. Public sector banks earned thousands of crores of rupees through penalty for not keeping minimum balance in savings accounts. The Ministry of Finance (Ministry of Finance) gave this information in Parliament on Tuesday. The Ministry of Finance (Ministry of Finance) said that public sector banks have charged a fine of about Rs 9,000 crore over a period of five years. However, many banks are announcing the waiver of the fees incurred on not having minimum balances.

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According to the data shared by the Minister of Minister of State for Finance for Finance Pankaj Chaudhary, public sector banks collected Rs 8,932.98 crore as a minimum average monthly balance in five years in five years from 2020-21 to 2024-25.

Which bank recovered from the minimum bank rules?

Indian Bank recovered the most money from the rule of minimum balances. Indian Bank recovered Rs 1,828 crore.

Punjab National Bank recovered Rs 1662 crore from account holders during this period.

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Bank of Baroda recovered Rs 1,532 crore from account holders in 5 years.

Canara Bank recovered Rs 1,213 crore from account holders.

Bank of India recovered Rs 810 crore.

Bank of Maharashtra recovered Rs 535 crore.

Central Bank of India recovered Rs 588 crore.

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Union Bank of India recovered Rs 485 crore.

UCO Bank recovered Rs 120 crore.

Punjab and Sindh Bank recovered Rs 101 crore.

Indian Overseas Bank recovered Rs 62 crore.

These banks are not taking charge

The Ministry of Finance (Ministry of Finance) said that these figures have come a few days after the Union Bank of India forgiven the fine for not keeping the minimum balance in collaboration with other public sector banks. Union Bank of India last week said that the move aims to ensure uniformity, fairness and increase the reach of basic banking services for customers.

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The Ministry of Finance (Ministry of Finance) said other public sector banks, which have abolished these fees from the current quarter, include Canara Bank, Bank of Baroda, Punjab National Bank, Indian Bank, Bank of India and Central Bank of India. State Bank of India, the country’s largest lender, has not imposed non-refinance fine since March 2020.