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The Department of Financial Services (DFS) has urged banks to review penal charges for not maintaining Minimum Average Balance (MAB). This directive, as stated by MoS for finance, Mr. Pankaj Chaudhary, prioritizes providing financial ease to customers, particularly those residing in semi-urban and rural regions. The aim is to alleviate the burden of these charges on a wider customer base.
Department of Financial Services (DFS) has advised banks to examine the issue of rationalization of penal charges for non-maintenance of Minimum Average Balance (MAB), with emphasis on providing relief to customers in semi-urban and rural areas, said MoS for finance, Mr. Pankaj Chaudhary, Department of Financial Services (DFS) has advised banks to examine the issue of rationalization of penal charges for non-maintenance of Minimum Average Balance (MAB), with emphasis on providing relief to customers in semi-urban and rural areas, said MoS for finance Pankaj Chaudhary.
Source : https://economictimes.indiatimes.com/industry/banking/finance/banking/et-graphics-npas-in-msme-with-psbs/articleshow/122983031.cms?from=mdr
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