|RBI/2013-14/69 DBOD No.Leg.BC. 22/09.07.006/2013-14 clause 5.4
The clause 5.4 of the RBI circular is reproduced as below :
"5.4Minimum balance in savings bank accounts
At the time of opening the accounts, banks should inform their customers in a transparent manner the requirement of maintaining minimum balance and levying of charges, etc., if the minimum balance is not maintained. Any charge levied subsequently should be transparently made known to all depositors in advance with one monthís notice. The banks should inform, at least one month in advance, the existing account holders of any change in the prescribed minimum balance and the charges that may be levied if the prescribed minimum balance is not maintained."
July 1, 2013Hence action of the bank is against RBI circular and principles of natural justice .I request you to reimburse Rs 3800/ deducted from account and waive off the charges
Ashadha 10, 1935