Private Banks’ Minimum Balance Penalties Rise as PSB Collections Fall

TL;DR Banks collect penalties and service charges for various banking services, including non-maintenance of Average Monthly Minimum Balance (AMMB), debit card annual maintenance, and ATM transactions. While several public sector banks have reduced or discontinued AMMB penalties in recent years, private sector banks have reported rising collections. Debit card annual maintenance charges have also grown [...]

The post Private Banks’ Minimum Balance Penalties Rise as PSB Collections Fall appeared first on FACTLY.