Private sector banks collected over ₹11,000 cr in 3 yrs for not maintaining minimum balance in accounts

Private sector banks collected around ₹11,000 crore in three years (fiscal year 2022-23 to fiscal year 2024-25) as compared to ₹8,000 crore by public sector banks on account of non-maintenance minimum monthly average balance (MAB), data provided by the Finance Ministry in the Lok Sabha on Monday showed.According to data in the written response by Finance Minister Nirmala Sitharaman, HDFC Bank emerged as the top earner with over ₹3,800 crore in 3 years, followed by Axis Bank and ICICI Bank with over ₹2,700 c ...