State Bank of India has started to impose the penalty on non-maintenance of minimum balance in accounts from April 1. For metro branches, the monthly average balance will be Rs. 5,000 and penalty for non-maintenance of minimum balance will be between Rs. 50 and Rs. 100. And for urban and semi-urban branches, the average balance has been decided at Rs. 3,000 and Rs. 2,000, respectively. For rural branches, the minimum balance has been fixed at Rs. 1,000. Breach of monthly average balance will attract a penalty ranging between Rs. 20 and Rs. 50. Charges for ATM withdrawal has also been implemented from April 1.
