Even banks, not in our organizational field: RBI GOV MalHotra on the minimum lifting of the balance of ICici Bank

RBI Sanjay Malhotra said that the minimum bank balance is not subject to the regulatory scope of the Central Bank. He said that the minimum balance of the balance is up to banks.

“I left RBI to banks to decide the minimum balance of the balance they want to keep,” said the ruler Malhotra, speaking with the correspondents. “Some banks were crowned at 10,000 rupees, some of which have 2000 rupees and some of them abdicated them. This is not in the organizational field of RBI.”

This comes after the ICICI Bank raised the minimum balance in a bank account in the metro and urban areas in the amount of 50,000 rupees, while it was raised to 25,000 rupees for accounts in semi -urban areas and 10,000 rupees in rural areas.

Features of customers who fail to maintain the minimum balance requirements will be imposed on a fine of 6 percent of the shortage of the required balance or 500 rupees, according to the bank’s website.

Despite the decision, ICici Bank remained unjust, as the apartment settled at 1,436.70 rupees on the madness of the cow after trading in a narrow range of 1419.85-1,438.80 rupees. The shares have decreased by 3.49 percent in the past two weeks, against a 0.6 percent decrease in BSE Bankx and a 0.35 percent decrease in BSE Sensex during the same period.

At the same time, the Civil Society Organization, “Basho Dish Pashao Manch”, wrote to the Ministry of Finance, which it urges to intervene and reverse the decision. “This reactionary decision undermines the principle of comprehensive banking services,” said Biswaranjan Ray and Soumya Datta.

Jay Kotak said that most India earns less than 25,000 rupees per month, which means that they will have to lock almost all its monthly income with the bank or face sanctions.

The average balance of the minimum ICici Bank has become the highest among Indian banks, which distinguishes it from other major banks in the country. On the other hand, the State Bank in India and HDFC continues to apply the low minimum balance requirements to maintain costs, to manage customers and enhance totalitarianism.