Banks collect Rs 5000 cr for breaching min balance

Agencies

August 5, 2018

New Delhi, Aug 5: As many as 21 public sector banks and three major private sector lenders collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18, according to banking data.

India's largest lender State Bank of India, which suffered a staggering net loss of Rs 6,547 crore during 2017-18, led the pack in penalising its customers for not maintaining minimum account balance.

SBI, which reintroduced the penalty on deposits going below monthly average balance basis from April 2017, collected nearly half the amount raised by the 24 banks put together (Rs 4,989.55 crore).

But for the additional income of Rs 2,433.87 crore under this head, SBI's losses would have soared further.

After SBI, the largest amount of charges for not maintaining minimum balance during 2017-18 was collected by HDFC Bank. It charged its customers Rs 590.84 crore, which is lower than Rs 619.39 crore in 2016-17, the data revealed.

Axis Bank collected Rs 530.12 crore in the last fiscal while ICICI Bank charged Rs 317.6 crore.

SBI was charging the penalty on failure to maintain monthly average balance requirement till 2012 and again re-introduced it from April 1, 2017.

Following the criticism, SBI reduced charges with effect from October 1, 2017.

According to the RBI norms, banks are permitted to levy sevice/miscellaneous charges.

Customers opening accounts under Basic Savings Bank Deposit (BSBD) scheme as well as Pradhan Mantri Jan Dhan Yojna are not required to maintain any minimum balance.

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Air India Express brings back Mangaluru–Muscat direct flights from March 2026

News Network

December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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