2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Indian Bank
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Axis Bank
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ICICI Bank
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State Bank of India
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Detailed explanation-1: -After a gap of five years, State Bank of India has decided to reintroduce penalty on non-maintenance of minimum balance in accounts from April 1, and revised charges on other services, including ATMs.
Detailed explanation-2: -6. Kotak 811 Zero Balance Account (Kotak Mahindra Bank-811 Digital Bank Account): Kotak 811 is a zero balance savings account that has zero charges and maintenance fees. Upon opening the account, users will instantly get a virtual debit card which can be used for online purchases and other online transactions.
Detailed explanation-3: -There is no limit on the penal charges that a bank will charge for the non-maintenance of the minimum balance. The charges have to be approved by the bank’s board. Charges will vary from bank to bank and from branch to branch as well. Penalty charges for branches in semi-urban and rural areas will be lower.