The Reserve Bank on Thursday asked banks to inform their customers about fall in minimum balance well in advance and said that penal charges should be levied only to the extent of shortfall in such balances.The guidelines with respect to levying of penal charges for non-maintenance of minimum balance will come into effect from 1 April, 2015.it has been decided that while levying charges for non-maintenance of minimum balance in savings bank account, banks shall adhere to the additional guidelines,’ RBI said in a notification addressed to banks.

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